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Fully agree with the comments here, I tend to look in at the shop around 11am, and still a steady trickle of customers buying.
For customers at 6am, its becoming the preferred lunch location for everyday working, quality but with favourable all important price.
Also quality and taste is excellent, location and footfall is essential to new shops and they seem to be getting it right.
39
Would have expected a better reaction in SP today, in the news today as well.
Same here in North London. 80% of customers at 6am are council workers. Shop packed.
Greggs in our high street is the first shop to open every morning and people are queuing
(Sharecast News) - UK high street baker Greggs reported a 2% rise in annual profits, as inflation and higher costs hit the bottom line and said like-for-like sales in company-managed shops up was up 18.8% in the first nine weeks of 2023, in line with expectations.
The company, famed for its sausage rolls, said pre-tax profits for 2022 rose to £148.3m from £145.6m as total sales increased 23% to £1.5bn.
"Cost inflation will continue to be a challenge in the year ahead, driven particularly by pay awards and energy costs, but we are confident that our outstanding value proposition will remain compelling as customers look to make their money go further. As such, we remain confident in the prospects for the business in 2023," said chief executive Roisin Currie.
Greggs expects overall input cost inflation in 2023 to be 9-10% and said uncertainty over commodity prices remains "but we have been able to secure forward cover for all of our electricity requirements through to the end of the third quarter of the year and expect to extend this further when opportunities present themselves".
"We also have forward purchase agreements representing between four and five months of our food and packaging needs," the company added.
Reporting by Frank Prenesti for Sharecast.com
Tue, 7th Mar 2023 07:00
RNS Number : 0680S
Greggs PLC
07 March 2023
Dividend
· Pre-tax profit up 1.9% to £148.3 million (2021: £145.6 million)
· Robust cash position of £191.6 million supporting plans for future investment in growth
· Diluted earnings per share 117.5p (2021: 114.3p)
At the time of the interim results in August 2022 the Board declared an interim ordinary dividend of 15.0 pence per share (2021: 15.0 pence). In line with our progressive ordinary dividend policy and our target for the ordinary dividend to be twice covered by earnings, the Board intends to recommend at the AGM a final dividend of 44.0 pence per share (2021: 42.0 pence), giving a total ordinary dividend for the year of 59.0 pence (2021: 57.0 pence).
gla
102,120,602 shares issued in GRG. Makes my 279 seem a bit weedy. How many do other people here own? TT
Buybacks versus dividends and special dividends!!
PLEASE...dividends every time and I will decide if I want to add on down days WITH MY DIVIDENDS. (for the BOD)
YES, we all know buybacks increase EPS and the PE in most cases reverses, net result, there is no substantial increase in share price.
Markets want to see ORGANIC GROWTH & POTENTIAL and the markets are focused on Gregg's potential!
Reward shareholders and retain healthy profits to focus on Organic growth. (BOD)
gla
Prices up again but shops and seating areas are still very busy up here in the north.
Special dividends or investment in expanding business would be better for Greggs in my opinion than share buy backs. Buy backs ate often used to “prop up “ the share price, which is not need here. If and when some form of normality has returned, ( and Greggs has weathered this storm )imagine the even better position it would be in.
UBS raises Greggs price target to 3200 (3000) pence - 'buy'
You don't want to put all your Greggs in the same basket...but we're on a roll here!
Long term
They haven't. Under Ian Durant, they went for special dividends.
Can anyone tell me if Greggs had done a share buy back in the l ast three uears. Since January 2020 ?
https://tradingeconomics.com/commodity/natural-gas
Check out 1999
Yes, encouraging close last night.
TA showing 1st resistance 2860p & 2nd resistance 3192p for today 31/1/23 (changes over 20,50,100 day moving averages)
Currency/Energy is key to Greegs margins and US gas price closed at September 1999 lows!!!
Wheat, meats, and ingredients are mostly ALL bought in USD futures...worthy keeping an eye on GBP/USD.
gla
When inflation eventually softens ....happy days :)
Although it’s obvious the sell off in summer was overdone , the 50% rise since October is very impressive. Another 50 % rise would take Greggs back to where us was before new senior staff took over. We are heading toward the £40 mark when share division would happen making share price more attractive to buyers . I think once £40 is reached there will be a 2 for 1 split, making £20 a share
Nice write up in this week's chronicle and picture of sausage roll. TT
The yeast is definItley helping the share price RISE!
Can we stop with the puns please, they’re the wurst. Greggs is on a roll!
Lovin' the one liners folks...TT
Long live Sausage Rolls...(and vegetarian alternatives)...:-))
Stop and smell the flour, it’s on a knead to know basis!
Looks like the trading update was already baked in!
Past history ( although never a given indicator of future events) shows that with good results, of which I would be very surprised if they are not, the markets early response is as expected and a rise occurs but I think many expect the small spike and sell on it.
I know several production managers there and they told me throughout the Ukraine events strenuous efforts have to made to find alternative sources of raw ingredients needed to maintain production with as small a retail price increase as possible. Fortunately for Greggs, all retails prices have increased among it’s competition which has helped to maintain their market share. Good luck