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Trading statements

Greggs FY to be slightly ahead of forecasts

17 January 2017 07:30

Bakery group Greggs achieved its 13th consecutive quarter of like-for-like sales growth and expects full year results for 2016 to be slightly ahead of previous expectations.

Greggs says that for the 2016 financial year as a whole (52 weeks ended 31 December 2016) total sales grew by 7.0 per cent and company-managed shop like-for-like sales grew by 4.2 per cent.

Sales over the Christmas period were particularly strong, aided by a favourable trading pattern and, as a result, fourth quarter company-managed shop like-for-like sales grew by 6.4 per cent.

Excluding the final two weeks of the year fourth quarter like-for-like sales growth was 4.1 per cent.

Chief executive Roger Whiteside said: "We finished 2016 well, delivering our thirteenth consecutive quarter of like-for-like sales growth, and anticipate that we will report full year results for 2016 slightly ahead of our previous expectations. "In the year ahead, whilst we will undoubtedly see a number of well-documented industry headwinds, we are confident we will continue to make progress with the implementation of our strategic plan, including significant investment in our capability to supply a growing shop estate."

Story provided by StockMarketWire.com

Related Company: GRG

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