Greggs makes progress despite share price wobble

Investors responded to Greggs (GRG) results as if they had just bitten into a scalding hot pasty. The sausage roll seller’s shares were marked down by more than 7 per cent after the release of these results, which seems odd on the face of it given solid revenue and profit growth. Perhaps, as several City analysts mused, the lack of an earnings upgrade on the back of the interim postings weighed on sentiment as management kept its full-year forecasts unchanged.