Business
Final Results - A Year of Sig
Final Results - A Year of Sig.
About this update from Greggs Plc
[{"type":"text","content":"\n RNS Number : 7635I Greggs PLC 18 March 2010 \n \n\n \n18 March 2010\nGreggs plc\n \nPRELIMINARY RESULTS FOR THE 53 WEEKS ENDED 2 JANUARY 2010\n \nGreggs is the leading bakery retailer in the UK, \nwith over 1,400 retail outlets throughout the country,\n serving freshly baked products to a million customers each day\n \nA YEAR OF SIGNIFICANT PROGRESS\n \n· Pre-tax profit up 8.0% to £48.8m (2008*: £45.2m) \n· Sales up 4.8% to £658m: like-for-like sales up 0.8%\n· Diluted earnings per share up 11.1% to 34.0p (2008*: 30.6p) \n· Dividend per share up 11.4% to 16.6p: 25th consecutive year of dividend growth\n· Completed programme to create a simpler and more focused business\n· Created single brand and harmonised product ranges across UK\n· Beginning programme of accelerated expansion: 50 - 60 net new shops in 2010\n \n\"We have achieved our key objectives despite the pressures of a harsh recession, and delivered a record underlying operating profit whilst completing a major programme of reorganisation to create the right structure for future growth.\n \n\"Given the uncertain outlook for consumer spending in the current year, we considered it sensible to plan for like-for-like sales growth to be marginally positive, and to manage our costs so that they remain consistent with this challenging trading environment. The current outlook for ingredient costs is reasonably benign, and we expect further cost benefits from the simplification of the business completed during 2009. In the ten weeks to 13 March 2010 total sales have increased by 2.8 per cent and like-for-like sales by 0.8 per cent.\n \n\"We look forward to bringing the unique Greggs combination of freshness, quality, taste and value to many more consumers as our expansion programme gains pace, and believe that we are well placed to achieve a year of further progress in 2010.\"\n- Derek Netherton, Chairman\n\n\n\n\n \n* 2008 figures exclude exceptional items\n \nENQUIRIES:\n\n\n\n\n\n\n\nGreggs plc\n\n\nHudson Sandler\n\n\n\n\nKen McMeikan, Chief Executive\n\n\nWendy Baker / Michael Sandler \n\n\n\n\nRichard Hutton, Finance Director\n\n\nTel: 020 7796 4133\n\n\n\n\nTel:\n\n\n0...