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Mick, there is no "big" director buy. ??
"The company said it now had sufficient available credit to cover a scenario where its shops were unable to trade for the rest of the year"
Ive gone in for GRG Greggs , I said I was watching it like an hawk...some good news out today,a big director buy and this item........
UPDATE 1 – British baker Greggs taps government finance to get through coronavirus crisis
09-04-2020 13:32
By James Davey
LONDON, April 9 (Reuters) – British baker Greggs , whose shops have been shuttered by the coronavirus emergency, has secured credit from a government support scheme to meet its liquidity needs for a prolonged closure period, it said on Thursday.
The company said it now had sufficient available credit to cover a scenario where its shops were unable to trade for the rest of the year.
Greggs has so far issued 150 million pounds ($186 million) of commercial paper with a duration of 11 months under the Bank of England's Covid Corporate Financing Facility (CCFF).
The firm said that while its 2,050 retail outlets are shut its net cash outflow would be about 3.5 million pounds per week until the end of June and 4.5 million pounds from July.
Greggs had cash of 47 million pounds before receipt of the CCFF funding.
"Whilst many uncertainties remain, we have ensured that Greggs and its many stakeholders will be well supported through this difficult period and that the company will be in a position to return to profitable growth as soon as conditions allow," it added.
Shares in Greggs were down 4.8% at 1209 GMT, extending their loss for 2020 to 23%.
($1 = 0.8073 pounds)
(Reporting by James Davey Editing by Catherine Evans and David Holmes) ((james.davey@thomsonreuters.com)
AND
Director Buys Price Volume
£17.6336 562
https://www.investegate.co.uk/greggs-plc--grg-/rns/director-pdmr-shareholding/202004091449314200J/
Chart showing uptrend channel is still intact.
https://uk.advfn.com/p.php?pid=legacydaily&epic=L^GRG&type=4&size=3&period=4&ind_type1=1&ind1_1=&ind2_1=&olx_1=3&ma_type1=3&o_1maday1=10&o_2maday1=&o_colour1=1&olx_2=3&ma_type2=3&o_1maday2=50&o_2maday2=&o_colour2=2&olx_3=3&ma_type3=3&o_1maday3=200&o_2maday3=&o_colour3=3&scheme=&delay_indices=DELAYED_INDICES
i thought all GRG shops were closed ?
heres a question for you if greggs is holding this price now with shops shut what will the SP shoot to when they re open????????? looksa like ill get my £25 and some more too :-))) patience
Greggs products are still in Iceland stores I understand? Iceland don't deliver to my postcode or I would.
Monday 23rd march...GREGGS bakeries across the country will shut tonight, with the popular food chain saying closure of stores is necessary in order to help fight then coronavirus outbreak engulfing the UK.
By DAN FALVEY
PUBLISHED: 17:19, Mon, Mar 23, 2020
UPDATED: 22:29, Mon, Mar 23, 2020
"Desperate Brits travel from town to town to get their hands on Greggs' new vegan sausage roll after the controversial pastry SELLS OUT in dozens of stores (and one woman says her son was left in tears}"
Vegan sausage rolls, steak bakes and doughnuts will soon be back on the menu........
Wow...the longer we stay closed the more the Share price goes up...win win....staff get paid by the government and no ingredients to buy or utility bills to pay.....
If Greggs and other retailers stay closed for three/four months you won't need to worry about the coronavirus, you will have mercenaries knocking your front door down as we enter into a Mad Max world.....
;-))))
Since Greggs announced yesterday that they were temporarily closing as part of the Government lockdown, the SP has gone up...maybe if they stay permanently shut we could be back up to £25...:-)
At our preliminary results announcement on 3 March we disclosed that Company-managed shop like-for-like sales grew by 7.5 per cent in the nine weeks to 29 February 2020.
For the two weeks that followed Company-managed shop like-for-like sales growth averaged 4.1 per cent and in the most recent week to 21 March 2020 we saw a 9.9 per cent decline.
The rate of decline has been increasing each day as more and more customers heed the Government advice on social distancing, and we would expect this to increase further if we were to continue to trade.
Thats the only reason they closed a drop in sales.
Moniman.dont take the bait ...Gregg's would be £25 by now if it wasnt for this virus ..take no notice of these people ...its a waste of time and effort put them on filter
"........Turing to its balance sheet, Greggs expects to end the week with GBP60 million in cash.........................
cutbacks are expected to save GBP45 million. Also, Greggs has decided to cancel its 2019 final dividend, expected to save a further GBP40 million.
"There are many forward scenarios but we are planning our finances around the most severe, being that our shop operations remain closed for a prolonged period," Greggs
In the financial year ended December 28, sales rose 14% to GBP1.17 billion from GBP1.03 billion. Pretax profit was 31% higher at GBP108.3 million from GBP82.6 million in 2018.
"Whilst the outlook during this crisis remains uncertain Greggs is a resilient business with strong growth credentials and we should be confident of its ability to navigate this event and return to growth when the economy recovers," the baker added......
There's very few UK businesses that could say this.....no debt and millions in the bank....you try to find another business like this, I can't think of a single one?
Good luck all holders, and shame on derampers...you'd have been shot in the last war for subterfuge!
It wasn't Greggs that called it a profit warning, it was sharecast that chose to call it that....it was a statement on store lockdown etc as Greggs and others had already been told by the Government that all non essential business would be required to cease trading and let staff know. They shouldn't really have given a preliminary trading report as it goes against the latest FCA advice from today?
https://www.fca.org.uk/news/statements/fca-requests-delay-forthcoming-announcement-preliminary-financial-accounts
Pigs will eat well
So what will happen to the stocks of food? No doubt thrown away , putting yet more pressure on the supermarkets.
What a mess this is.
(Sharecast News) - Greggs issued a profit warning on Monday due to the coronavirus, scrapped its dividend and said it could not provide forward guidance.
MONIMAN
Complain to sharecast News.......NOT ME!!
https://www.lse.co.uk/news/GRG/greggs-warns-on-profits-scraps-dividend-due-to-covid-19-e1wkf3b1ikw3c7w.html
We are on lock down its official
Mick b you really are a dcik...they haven't issued a profit warning. they and all retailers have been told to close their doors by the PM..but most importantly where the fcuk am I going to get my vegan sausage rolls from
...:-(
Greggs has become the latest food retailer to say it will close its shops temporarily to help fight coronavirus.
The bakery chain, which has more than 2,050 outlets, said all shops would shut on Tuesday night to help maintain social distancing.
I think Greggs will remain open to feed people...especially sausage roll and doughnut addicts....:-)
Queues mostly outside my two local branches.
You shouldn't look at night, ha ha