Expanding locations and vegan range key ingredients to the bakery’s success
Greggs on a roll as profits boom
- It was another record year for Greggs with sales up by 13.5% leading to a pre-tax profit of £108.3m
- There was also a significant rise in the dividend with the group tempting investors with a possible special dividend at the interim stage
- 138 new shops opened over the last year against 41 closures
- The company has made a strong start to 2020 but the bad weather in February has led to a slowdown in sales and there is further uncertainty over the potential impact of coronavirus
- Shares modestly rose this morning and are up around 70% over the last two years
It was another record year for Greggs with sales up by 13.5%, leading to a pre-tax profit of £108.3 million. There was also a significant rise in the dividend, with the group suggesting a possible special dividend at the interim stage.
138 new shops were opened over the year against 41 closures, and management are keen to address the perceived problem of queues by trialling and developing new technology. With around 100 new shops planned for this year, along with drive-thru, supermarket and railway station and airport locations, stores will be accessible and available, especially to those who have missed out up to now.
The hot topic of healthier eating and vegan products is again at the forefront, with the launch of a vegan hot cross bun to go alongside its very successful vegan sausage roll.
The company made a strong start to 2020 but the bad weather in February has led to a slowdown in sales and there is further uncertainty over the possible impact of coronavirus.
With the shares up by around 70% over the last 2 years, it’s refreshing to report on a retail success story.
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