13th Jan 2005 07:00
Greggs PLC13 January 2005 13 January 2005 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 1,250 retail outlets throughout the UK, trading under the Greggs and Bakers Oven brands. Group Managing Director Sir Michael Darrington reports: 'We have achieved apleasing sales performance in our second half, which comprised the 29 weeks to 1January 2005. Group like-for-like sales for the period as a whole have risen by6.0%. Performance in the final 11 weeks following the issue of our Octobertrading update was ahead of our budget, showing a like-for-like increase of5.7%. Underlying like-for-like sales growth during the five week period to 8 January2005, covering Christmas trading, was in line with the overall second half trendafter adjusting for the different holiday closure patterns in the two years. Our selling price inflation averaged 2.4% over the second half, and is currentlyrunning at the same rate. During the year we opened a total of 56 new shops and closed 24, including 10re-sites. This gave us a net addition of 32 units, in line with our targets,taking our total estate to 1,263 shops at the year end. In view of the good sales performance, I am confident that we will report a yearof satisfactory progress when we make our preliminary results announcement,which is scheduled for 14 March 2005.' ENQUIRIES:Greggs plc gcg hudson sandlerSir Michael Darrington, Managing Director Wendy Baker / James HillMalcolm Simpson, Financial Director Tel: 020 7796 4133Tel: 0191 281 7721 keithhann.communications Keith Hann Tel: 07831 521870 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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