SHARES in bakery chain
Under chief executive
The Newcastle-based chain said total sales rose 3.1 per cent in the 26 weeks to 28 June while sales at stores open more than a year were up 3.2 per cent compared with a 2.9 per cent drop in sales last year.
Following the strong performance,
The group warned that sales in the second half faced tougher comparatives on last year, though it expected to make further progress with its strategic plan.
ANALYST VIEWS WHAT DID YOU MAKE OF GREGGS' FIRST-HALF PRE-CLOSE STATEMENT? By Kasmira Jefford MARK HODGES EDISON INVESTMENT RESEARCH We had an encouraging interim statement from
DARREN SHIRLEY SHORE CAPITAL Greggs' surprise trading update confirmed robust trading had been sustained through the first half, resulting in upgrades to full-year expectations. We upgrade our full-year pre-tax profit forecast by around six per cent to £46.4m, which we expect to be at the upper end of market expectations.
SAHILL SHAN N+1 SINGER EQUITY RESEARCH There is good news on like-for-like sales, overall cost control and input cost inflation for the second half. In short, the update is supportive of the investment case… Admittedly, it will be lapping some of the self-help initiatives and stronger comparatives in the second half, but we feel
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