Greggs Regulatory News (GRG)

12 Jan 2006 07:01

Greggs PLC12 January 2006 12 January 2006 GREGGS plc TRADING UPDATE Greggs is the UK's leading retailer specialising in sandwiches, savouries and other bakery products, with a particular focus on takeaway food and catering.It has over 1,300 retail outlets throughout the UK, trading under the Greggs and Bakers Oven brands. Group Managing Director Sir Michael Darrington reports: 'Group like-for-likesales in our second half, comprising the 28 weeks to 31 December 2005, increasedby 3.0 per cent. Underlying like-for-like sales growth was approximately 2 percent, after adjusting for the benefit of additional trading days over theChristmas period compared with 2004. Like-for-like sales over the Christmas and New Year trading period, comprisingthe five weeks to 7 January 2006, showed an improvement of 5.4 per cent.However, comparisons are again distorted by the inclusion of additional tradingdays in 2005/06, and underlying like-for-like sales progress during this periodwas negligible. During the year we opened 72 new shops and closed 16, giving us a net additionof 56 units and a total of 1,319 at 31 December. This was ahead of the targetstated in our interim report. Despite substantial cost pressures during the year, notably in energy, we havemade some progress in controlling our costs in what is undoubtedly a morechallenging trading environment. We therefore expect to report modest progress,in line with market expectations, when we make our preliminary resultsannouncement, scheduled for Friday, 10 March 2006.' ENQUIRIES:Greggs plc Hudson SandlerSir Michael Darrington, Managing Director Wendy Baker / James HillMalcolm Simpson, Financial Director Tel: 020 7796 4133Tel: 0191 281 7721 keithhann.communications Keith Hann Tel: 07831 521870 This information is provided by RNS The company news service from the London Stock Exchange