1st Mar 2016 07:59
LONDON (Alliance News) - Greggs PLC on Tuesday reported growth in profit in its recently-ended financial year as revenue was boosted by an increase in customer visits and average transaction values.
The bakery and food-to-go retailer said its pretax profit in the year ended January 2 grew to GBP73.0 million from GBP49.7 million the prior year, as revenue rose to GBP835.7 million from GBP806.1 million.
Greggs said market conditions continued to be favourable during 2015, with low inflation leading to further rises in real disposable consumer income. As a result, the business saw strong growth throughout the year, although customer footfall in some shopping locations was subdued in the final quarter.
Still, the number of customer visits and average transaction values grew overall in the year, Greggs said.
Greggs will pay a total dividend of 28.6 pence for the year, which is a 30% increase on the 22.0p paid the year before.
"This year has started well and the consumer outlook remains positive with disposable incomes expected to grow further in 2016. Overall 2016 will be another year of significant change as we advance with our strategic plan and propose major investment in our supply chain. Alongside this we are confident of delivering a further year of underlying growth," Chief Executive Roger Whiteside said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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