Greggs PLC Trading Update - Replacement (6040I)
November 27 2018 - 3:03AM
UK Regulatory
TIDMGRG
RNS Number : 6040I
Greggs PLC
27 November 2018
The first two bullet points in this announcement have been
amended in line with the commentary below to state the trading
period is eight weeks to 24 November 2018, as opposed to the nine
weeks previously stated.
27 November 2018
GREGGS plc
TRADING UPDATE
Greggs is the leading bakery food-on-the-go retailer in the
UK,
with over 1,900 retail outlets throughout the country
Strengthened performance
-- Total sales up 9.0% for the eight weeks to 24 November 2018
-- Company-managed shop like-for-like sales up 4.5% for the eight weeks to 24 November 2018
-- Like-for-like performance ahead of expectations and good cost control
-- Now anticipate 2018 full year profit before tax (excluding
exceptional charges) to be at least GBP86 million
Trading performance and outlook
The improved trading performance reported in our third quarter
trading update has strengthened further during October and to date
in November. In the eight weeks to 24 November 2018, total sales
grew by 9.0 per cent (2017 comparator period: 8.2 per cent) and
like-for-like sales in company-managed shops increased by 4.5 per
cent (2017 comparator period: 4.5 per cent). In the year-to-date,
total sales have grown by 6.6 per cent and like-for-like sales have
increased by 2.5 per cent.
This stronger trading in October and November is particularly
encouraging as it builds on good comparative sales in the same
period last year. Operational costs have been well controlled and,
whilst there is still much to play for over the final few weeks of
the year, the Board now anticipate that full year underlying profit
before tax (excluding exceptional charges) will be at least GBP86
million.
ENQUIRIES:
Greggs plc Hudson Sandler
Roger Whiteside, Chief Executive Wendy Baker / Hattie O'Reilly
Richard Hutton, Finance Director
Tel: 0191 281 7721 Tel: 020 7796 4133
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END
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