Management only boosted profit guidance at the end of November, but Greggs’ (GRG) shares rose steadily again after the high-street baker revealed a 7.2 per cent rise in total sales during the fourth quarter.
IC TIP:
Hold
at
1,461p
Shop sales are going strong, up 2.9 per cent following 149 openings and 50 closures, which analysts put down to better conversion rates and a good response from customers to new product ranges. Adjusted pre-tax profits for 2018 are now expected to be at least £88m, compared with previously upgraded expectations of £86m.
