Greggs expecting full-year profit before tax of £86m

Greggs is expecting to make a full-year profit of £86m following strong trading in October and November.

Total sales across the food-to-go firm’s 1,900 retail outlets rose 9% year-on-year in the eight weeks to 24 November 2018, compared with an 8.2% rise in the same period last year. Like-for-like sales in company-managed shops increased 4.5%.

In the year to date, total sales were up 6.6% and like-for-likes up 2.5%.

Greggs reported that improved trading in its third quarter had strengthened further during October and to date in November. 

“This stronger trading in October and November is particularly encouraging as it builds on good comparative sales in the same period last year,” stated the business in a trading update today (27 November).

“Operational costs have been well controlled and, while there is still much to play for over the final few weeks of the year, the board now anticipates that full year underlying profit before tax (excluding exceptional charges) will be at least £86 million.”

Greggs this month announced a trial partnership with Deliveroo from two shops in London that will enable menu items, including breakfast, coffee, savoury pastries and sausage rolls, to be ordered via the Deliveroo app or website.