Greggs now expects its full year underlying profit to be higher than its previous guidance.
The upgrade came after the baker and takeaway food chain revealed that its trading performance in its fourth quarter to date had continued to be “very strong”. Its total sales were up 12.4% during the six weeks to 9 November with like-for-likes increasing by 8.3%.
In the year-to-date, the group’s total sales have grown by 13.4% and like-for-like have risen by 9.2%.
A statement from Greggs said: “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.
“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.”
