IMS - Continued Resilient Per

RNS Number : 7442L

Greggs PLC

12 May 2010

 



12 May 2010

GREGGS plc

INTERIM MANAGEMENT STATEMENT

Greggs is the leading bakery retailer in the UK,

with over 1,400 retail outlets throughout the country,

serving freshly baked products to a million customers each day

CONTINUED RESILIENT PERFORMANCE

The Chairman, Derek Netherton, will deliver the following Interim Management Statement to shareholders at the Annual General Meeting to be held in Newcastle upon Tyne later this morning.

"I am pleased with our year to date performance in a trading environment that remains challenging.  For the 18 weeks to 8 May 2010, total sales increased by 2.6 per cent and like-for-like sales by 0.6 per cent, consistent with our expectations of marginally positive like-for-like sales growth over the year.  This has been achieved against our strongest period of like-for-like sales in 2009.  Overall costs to date are in line with our plans.

 "We have maintained our commitment to delivering the outstanding value and quality that Greggs' food offers.  Our latest national TV advertising campaign, Greggs 'The home of fresh baking', has been launched focusing on our shop staff making our sandwiches fresh by hand, every day, using bread we bake ourselves every day.  Customer and staff feedback has been positive.

"We remain encouraged by sales from new products and have sold more than two million breakfasts to our customers since the national launch in February of our breakfast offer - bacon or sausage in a fresh, Greggs-baked roll.

"We continue to make good progress towards our strategic objectives and are on track to open a net 50 to 60 new shops and complete 120 refits this year.  Our financial position remains strong and we are well placed to deliver further growth in 2010."

ENQUIRIES:
Greggs plc	Hudson Sandler
Ken McMeikan, Chief Executive	Wendy Baker / Michael Sandler
Richard Hutton, Finance Director	Tel:  [phone]
Tel:  [phone]

 

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