Greggs reported a 6.1% rise in total sales over the third quarter, with like-for-like sales up 1.5%. Management called out weaker trading in July due to warmer weather, with trends improving in August and September.
57 net new shops have been opened so far this year, with the group now expecting to open 120 by year's end (previously 140-150).
Full-year guidance is unchanged, which suggests operating profits will be “modestly below” 2024’s level of £195mn.
The shares rose 6.1% in early trading.
Our view
HL view to follow.
Greggs key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
This article is not advice or a recommendation to buy, sell or hold any investment. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment.