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Greggs surprises with profit upgrade

Greggs surprises with profit upgrade

Shares in high-street baker Greggs (GRG) rose by as much as 13 per cent after the group revealed that strong sales growth had continued from the third quarter into October and November. As part of a trading update, the group revealed total sales growth of 9 per cent over the eight weeks ended 24 November, with company-managed shop like-for-like sales up 4.5 per cent. That underlying performance beat management’s expectations, prompting improved full-year adjusted pre-tax profit guidance of £86m, up from £82m.

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