Greggs PLC

GRG

Equity

ISIN GB00B63QSB39 / Valor 10020730

LSE London Stock Exchange, SETS (2025-03-13)

GBP 18.40-1.97%

Greggs PLC
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About company

Greggs PLC is a UK-based bakery chain that specializes in selling a variety of fresh bakery goods, sandwiches, sweets, and drinks.

Summarized from source with an LLMView SourceSector: Consumer Services

Total Sales Growth

In the first half of 2024, Greggs PLC reported total sales of £960.6 million, marking a 13.8% increase compared to the same period in 2023, where sales were £844.0 million. This growth reflects the company's continued strategic progress and expansion efforts.

Profit and Earnings

Greggs PLC's underlying pre-tax profit, excluding exceptional items, rose by 16.3% to £74.1 million in the first half of 2024, compared to £63.7 million in the first half of 2023. The underlying diluted earnings per share also increased to 53.8p from 46.8p in the previous year.

Dividend Increase

The company declared an ordinary interim dividend of 19.0p per share for the first half of 2024, representing an 18.8% increase from the 16.0p per share declared in the first half of 2023. This increase underscores Greggs PLC's commitment to returning value to its shareholders.

Cash Balance and Investment

As of June 2024, Greggs PLC reported a cash balance of £141.5 million, down from £195.3 million in December 2023. The reduction is attributed to the ongoing capital investment program aimed at supporting the company's growth strategy.

Strategic Outlook

Greggs PLC remains confident in its long-term growth strategy, with plans to open between 140 to 160 net new shops in 2024. The company is also investing in supply chain capacity and technology to support its ambitious expansion goals, aiming to significantly increase its shop count beyond 3,000 in the UK.

Summarized from source with an LLMView Source

Key figures

-35.7%1Y

-21.2%3Y

10.9%5Y

Performance

31.2%1Y

29.2%3Y

35.7%5Y

Volatility