Greggs PLC Trading Update (4055Q)
February 19 2019 - 1:00AM
UK Regulatory
TIDMGRG
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
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END
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