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The buys outnumber sells by 2:1 according to this website. Something doe not add up. Either this site is not reporting it or the shorts are not shown here. Same happening to WOSG as well. Need a reliable Web site know what is really happening
I've added today on the drop, which is, as is becoming common, an overreaction to sound results.Growth is still brisk, LFL up 16%, PTP up 14%, and expansion plans are on track. Divi is modest at 2.5% but more than twice covered. The figures were flattered by the insurance win which adds a one-off £16mill to the half-year earnings. I plan to hold here for a while even though at 22X the P/E is high, and somewhat anticipates the rapid growth the company is planning.
My exit point is ~£30 and I expect/hope to see that in the next year or so.
Total sales rose 22% in six months and the share price has dropped nearly 8%. Share buying opportunity maybe? Market playing games?
No logic. Great set of results so share price plummets 6%. (Same thing happened to BARC last week.) GRG top up time. TT
Given the cooler weather, I think this half will have started well - so at some point the sp will rise in the next few days as the market wakes up and smells the coffee , from grg of course!
Looks very positive not sure why the SP has dropped I'm very happy.
(Sharecast News) - Bakery chain Greggs backed its full-year guidance on Tuesday as it posted a jump in first-half profit and sales.
In the 26 weeks to 1 July, pre-tax profit rose to £80m from £55.8m in the same period a year earlier, on sales of £844m, up from £694.5m.
The company declared a dividend per share of 16p, up 7%.
Chief executive Roisin Currie said: "Greggs' strong performance continued in the first half of 2023 as we deliver on our strategic growth plan. With consumers remaining under pressure, we continue to offer exceptional value, which is reflected in our performance and growing market share.
"Our ambitious plans for growth are on track and our amazing teams are committed to realising the opportunity to become a significantly larger, multi-channel business."
Indigestion from great results consumed too quickly imv.
Great results and future growth plans - sp rise expected!
Should be a good read
Hi friends, just wonder if there is any gap to fill in? Why did GRG dropped this time again?
Cheers Volcano, I have recommended both your posts.
Despite the healthy trading update Liberum have cut GRG to a Hold from a Buy. Not sure why they would do that. With loyal customer base, growing retail footprint and reduction of energy costs the future looks very golden brown and crispy for Greggs. As ever, my opinion only. Do your own research and never put in more than you can afford to lose. Good Luck. TT
Bakery chain Greggs reported a strong performance in the first 19 weeks of 2023. Like-for-like sales in company-managed shops jumped 17% year-on-year, though this partly reflects the Omicron virus outbreak in 2022. In the 10 weeks to May 13, like-for-like sales growth has averaged 16%. The company backed its annual outlook, confident of making further progress despite continuing challenges. "Although we expect to see ongoing material cost inflation, we have good forward cover on key commodities. Consumer disposable incomes are likely to stay under pressure, but we remain confident that our outstanding value proposition continues to be compelling," Greggs said.
Continued strong trading performance
Card Factory result today shows what can happen when you put up prices and people still buy your product.
They put up prices 12% on average and have reported profits up by nearly 400%
When, on the rare occasion, that we go into town shopping as a family I express a desire to do the nice, relaxing, sit down cafe experience. However, I am always overruled by the senior management who would rather have us standing around eating steak slices, sausage rolls and veggie pasties from a grease proof paper bag. In the brave, new, credit crunched world Greggs has drawn in the squeezed middle away from boutique cafes and other overpriced eateries. With heat and wheat issues graually resolving themselves profit on sales can only increase IMHO. Good Luck GRG holders.
Hearing reports for Manchester region that the shops have queues of customers waiting to purchase products. I buy the frozen products myself and the sausage rolls are superb. Greggs control and produce the whole food chain to able to keep prices low and quality high. Can actually see this going a lot further.
Do you remember the times when we (or our parents generation) would go down to the high street to bank a cheque at the bank?
People use to plan there is whole visit to the high street around going down to the bank, and then popping into other shops and cafes as part of their lunch hour/break or "nipping out for an hour" etc.
However, of course there are no high street banks anymore they've all closed down, which is why the high street is struggling, however Greggs is always busy!
Just from observation on my local high street in hertforshire this morning, I now genuinely believe people are now visiting the high street to go to Greggs (like your builders/work people as mentioned in other posts), because there's actually little else of quality (Brands like Woolworths) in on our UK high streets anymore.
So I think people are actually going to the high street to visit Greggs, and planning there day around Greggs (in the same way that we planned out visit to our local bank), which is great news for the share price!
Definitely a buy.
And expansion into Europe too.
Does anybody know which countries? My guess is they want to expand to Eastern Europe Poland ???? etc
Greggs is now UK ???? "s favourite restaurant brand according to the office of National Statistics.
I’m guessing these are part of the 150 new, or relocated or redesigned shop, announced last month. Either way I like the way that, much like the previous board members in that they announce something and things happen very quickly indeed.
Shops still busy up north, with a slightly more positive outlook in the media( unless it’s a trap) I would expect the return to £30 not to far away
179 bought about 7 years ago
Know the price has risen a fair amount recently, but it seems to me that many hardworking men and women have adopted having food from Gregs fresh on a daily basis. This is a significant shift from bringing sandwiches to work, or going to a supermarket to buy food.
If you think about it there isn't loads of choice around where customers want ...
1. Speed..In and out.
2. Good price, just a couple of quid sees food for work for the day. Times are tight and miles better than more expensive options.
3. Known quality and tasty.
Great to hear shops rammed at 6am with council workers, Clearly footfall is proving what good value they are.
I have added to a small position today, and will continue to add.