Greggs PLC
12 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-like
sales in our second half, comprising the 28 weeks to 31 December 2005, increased
by 3.0 per cent. Underlying like-for-like sales growth was approximately 2 per
cent, after adjusting for the benefit of additional trading days over the
Christmas period compared with 2004.
Like-for-like sales over the Christmas and New Year trading period, comprising
the five weeks to 7 January 2006, showed an improvement of 5.4 per cent.
However, comparisons are again distorted by the inclusion of additional trading
days in 2005/06, and underlying like-for-like sales progress during this period
was negligible.
During the year we opened 72 new shops and closed 16, giving us a net addition
of 56 units and a total of 1,319 at 31 December. This was ahead of the target
stated in our interim report.
Despite substantial cost pressures during the year, notably in energy, we have
made some progress in controlling our costs in what is undoubtedly a more
challenging trading environment. We therefore expect to report modest progress,
in line with market expectations, when we make our preliminary results
announcement, scheduled for Friday, 10 March 2006.'
ENQUIRIES:
Greggs plc Hudson Sandler
Sir Michael Darrington, Managing Director Wendy Baker / James Hill
Malcolm Simpson, Financial Director Tel: 020 7796 4133
Tel: 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
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