Business
Preliminary Results-Another Year of Good Progress
Preliminary Results-Another Year of Good Progress.
About this update from Greggs Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 0196D Greggs PLC 16 March 2011 \n \n\n16 March 2011\n \n \nPRELIMINARY RESULTS FOR THE 52 WEEKS ENDED 1 JANUARY 2011\n \nGreggs is the leading bakery retailer in the UK,\nwith over 1,480 retail outlets throughout the country, \nserving freshly baked products to six million customers each week\n \nANOTHER YEAR OF GOOD PROGRESS\n \n· Record pre-tax profit: up 7.9% to £52.5m (2009: £48.8m) \n· Sales up 2.1%* to £662m: like-for-like sales up 0.2%\n· Record numbers of new shop openings and refits: net addition of 68 new shops\n· Diluted earnings per share up 9.7% to 37.3p (2009: 34.0p) \n· Dividend per share up 9.6% to 18.2p: 26th consecutive year of dividend growth\n \n* compared with the equivalent 52 week period in 2009\n \n\"In 2010 we grew sales and achieved record profits despite the tough trading conditions across the UK. I am delighted that we've made Greggs accessible to many more customers through our new shop opening programme, bringing them the great value, freshness and quality that our existing customers already enjoy.\n \n\"Whilst 2011 will see further pressures on consumer spending and rising global commodity prices our strong value positioning, excellent products, outstanding staff and clear strategy for growth mean that we are well positioned to deal with this challenging environment. \n \n\"In addition to opening around 80 net new shops in the year ahead we are planning for marginally positive like-for-like sales growth. Performance in the year to date is in line with our expectations with total sales increasing by 3.8 per cent including like-for-like sales of 0.4 per cent.\"\n \n- Kennedy McMeikan, Chief Executive\n \n\n\n\n\nENQUIRIES:\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\n020 7796 4133 on Wednesday 16 March only\n\n\n\n\n\n\n\n\n\n\n0191 281 7721 thereafter\n\n\n\n\n\n\n\nHigh resolution images are available for the media to view and download from http://corporate.greggs.co.uk/media-download\n\n\n\n\nPRELIMINARY RESULTS FOR THE 52 WEEKS ENDED 1 JANUARY 2...