Greggs share price: what’s the latest ahead of its Q4 trading update?
The UK-based bakery chain will unveil its fourth quarter trading update next week, with investors expecting a strong end to the financial year after the company upgraded its full-year guidance in November.
Greggs is set to unveil its Q4 results on Wednesday, with investors expecting a strong end to the financial year after the company upgraded its full-year profit guidance in November.
The UK-based bakery chain told investors that it anticipates full-year underlying pre-tax profit to exceed its previous guidance after recording a hike in total sales for the six weeks to November 9.
Looking to trade Greggs and other UK stocks? Open a live or demo account with IG.
Strong sales growth sends Greggs shares soaring
Total sales rose by 12.4% in the six-week period to November, up from the 8.5% growth the company accomplished in the same period a year prior.
‘Sales growth continues to be driven by increased customer visits and has been stronger than we had expected given the improving comparative sales pattern that we saw in the fourth quarter last year,’ Greggs said in statement.
‘Operational costs remain well controlled and, whilst the comparative sales become stronger still in the balance of the year, the board now anticipates that full year underlying profit before tax (excluding exceptional charges) will be higher than our previous expectations,’ the company added.
Since upgrading its full-year profit guidance in November Greggs shares have soared more than 30% to trade at £23.52 as of 11:25 GMT on Friday. A strong set of results next week will likely help the stock make further gains.
Overall, the bakery chain has had a strong 2019, with the stock up more than 75% over the last 12 months of trading.
You can go long or short Greggs with IG using derivatives like CFDs.
Greggs continues its ‘veganise’ popular products
The launch of Greggs vegan sausage roll in 2019 did wonders for the company in terms of brand awareness, with the buzz around the product helping to bring in more customers in 2019.
Greggs is keen to cash in on consumers interest in meatless products, with the bakery announcing the launch of its new vegan steak bake as part of a move to ‘veganise’ popular products.
The bakery chain is looking to increase ‘on-the-go options for people looking to reduce their meat intake,’ Greggs CEO Roger Whiteside said.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
Seize a share opportunity today
Go long or short on thousands of international stocks.
- Increase your market exposure with leverage
- Get spreads from just 0.1% on major global shares
- Trade CFDs straight into order books with direct market access
Live prices on most popular markets
- Forex
- Shares
- Indices
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.