13th Jan 2015 07:47
LONDON (Alliance News) - Greggs PLC on Tuesday said it expects its full-year results to be ahead of expectations following a rise in sales over the year and a boost from a strong Christmas period.
Greggs said total sales for the 53 weeks to January 3 are expected to be up 5.5%, with own-shop like-for-like sales expected to increase 4.5%. The rise in sales includes an extra trading week against the year before.
Fourth quarter own-shop like-for-like sales rose 6%, it said, boosted by an 8.2% rise in the five weeks to January 3. That compares to a 3.1% rise for the comparable period a year earlier.
Greggs said it expects its results to be ahead of its expectations for the full year and said conditions for the first half of 2015 were strong, with low input-cost inflation and an improved outlook for its disposable income.
"Since our last update on December 15, we have experienced a very strong level of trade through the Christmas and New Year period. Customers have clearly responded to the improvements in our product offer and service, designed to meet the needs of the food-on-the-go consumer, during this busy period," said Chief Executive Roger Whiteside.
"This has been a year in which we have made good progress with our strategic plans and seen a welcome improvement in financial performance. We remain clear on our priorities and are confident that we can make further progress in the year ahead," Whiteside added.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Greggs