leadf
logo-loader
RNS
viewGreggs PLC

Greggs PLC - Trading Update

RNS Number : 4055Q
Greggs PLC
19 February 2019
 

 

 

 

19 February 2019

 

GREGGS plc

TRADING UPDATE

 

Greggs is the leading bakery food-on-the-go retailer in the UK,

with over 1,950 retail outlets throughout the country

 

Exceptionally strong start to 2019

 

·    Total sales up 14.1% for the seven weeks to 16 February 2019

·    Company-managed shop like-for-like sales up 9.6% for the seven weeks to
16 February 2019

·    Exceptional sales performance boosted by publicity surrounding launch of Greggs' vegan-friendly sausage roll

 

Greggs has made an exceptionally strong start to 2019.  In the seven weeks to 16 February 2019, total sales grew by 14.1 per cent (2018 comparator period: 6.2 per cent) and like-for-like sales in company-managed shops increased by 9.6 per cent (2018 comparator period: 2.9 per cent).

 

The performance builds on the strong finish to 2018, and has been supported by extensive publicity surrounding the launch of the vegan-friendly sausage roll at the start of January.  As a result, customer transaction numbers have increased, with additional sales mainly comprising savoury products such as the vegan-friendly sausage roll and our other iconic sausage rolls and bakes.

 

The rate of growth has eased slightly in February but the strength of trading is likely to have a material impact on the first half result for 2019, particularly as comparative sales growth for 2018 was weak due to the extreme weather.  Sales comparatives then strengthen in the second half of the year.  Overall the Board now anticipates that 2019 full year underlying profit before tax (excluding exceptional charges) is likely to be ahead of its previous expectations.

 

Further information will be available at the publication of the Company's 2018 preliminary results on 7 March 2019.

 

 

 

ENQUIRIES:


Greggs plc

Hudson Sandler

Richard Hutton, Finance Director

Wendy Baker / Hattie O'Reilly

Tel:  0191 281 7721

Tel:  020 7796 4133

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
TSTLLFSRFAITLIA

Quick facts: Greggs PLC

Price: -

Market: LSE
Market Cap: -
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

3 min read