Trading Update



Summary :-

  • Total sales up 5.2% to £476m
  • Company-managed shop like-for-like sales* up 1.5%
  • Reported pre-tax profit including property profits and exceptional charge £24.1m (H1 2017: £19.4m)
  • Continued strong cash generation: £39.0m net inflow from operating activities (H1 2017: £34.0m)
  • Ordinary interim dividend per share up 3.9% to 10.7p

Not bad at all.



So it was just a ‘blip’ and Greggs coped well with the heatwave, which is very reassuring. 92 per cent of units are now in the Food on the Go format, with units off the High Street conceivably outnumbering those on the High Street in the longer term. No. 4 in coffee, No. 2 for sandwiches and No. 1 in pizza slices in the UK. Will trial first ‘click and collect’ store by the year end, with a commitment to follow the Digital Trend over the next couple of years. Up to 50 units planned for Northern Ireland. Looking to open around 5 ‘Drive Thro’s’ per year. Next trading update in early October when I am expecting a 3per cent increase in like for like sales, as the best trading period for Greggs looms over the horizon.
It’s a Strong Buy for me.


LFL of 3.2 per cent announced on Tuesday at the trading update matches my prediction of 3 per cent made two months ago.

My new prediction for the fourth quarter trading update is a LFL increase of 6 per cent.

Greggs is returning to it’s normal ‘cycle’ and is a strong buy.


That 6 per cent prediction of mine is looking pretty good at the moment.


GRG Greggs…starting to break away from consolidation on the chart. Target former top. Should get news on the new vegan wraps.

“Given the strength of trading in the latter part of 2019 the Board now expects that full year underlying profit before tax, after the cost of the special payment to employees, will be slightly higher than our previous expectations when we report our preliminary results for 2019 on 3 March 2020.”–grg-/rns/trading-update/202001080700030519Z/