News

Greggs Reports Rise in Profit and Revenue for First Half of Fiscal 2024

1 Mins read

Greggs, the U.K. bakery chain, has announced an increase in pretax profit and higher revenue for the first half of fiscal 2024. The company’s management expectations for the full year are unchanged.

Financial Performance

For the 26 weeks ended July 1, Greggs reported a pretax profit of £80.0 million, compared to £55.8 million in the same period last year. This includes an additional one-off benefit of £16.3 million from the settlement of its coronavirus business interruption insurance claim.

Total sales also saw a significant increase, rising to £844.0 million from £694.5 million. On a like-for-like basis, company managed shop sales grew by 16%.

Positive Momentum Continues into Second Half

Greggs stated that the strong business momentum observed in the first half has continued into the second half. They have experienced good sales, and the rate of cost inflation is starting to ease.

“While uncertainties in the economic outlook remain, we continue to trade in line with our plan and are making good progress against our strategic objective to grow the frequency of customer visits through new channels,” said the company.

Dividend Declaration

The board of Greggs has declared an interim dividend of 16.0 pence per share, up from 15.0 pence in the previous year.

Related posts
News

IMF commends Sri Lanka's new govt for reform continuation

1 Mins read
COLOMBO, Apr 25: The International Monetary Fund (IMF) on Friday commended the Sri Lankan government, led by President Anura Kumara Dissanayake, for…
News

U.S. Federal Reserve revokes crypto guidance for banks

1 Mins read
25th April 2025 – (Washington) The U.S. Federal Reserve announced on 24th April that it will withdraw previous guidance requiring state member…
News

Largo Reports Q1 2025 Production and Sales Results; Provides Update on Operational Turnaround Plans By Investing.com

7 Mins read
All dollar amounts expressed are in thousands of U.S. dollars unless otherwise indicated.Trending NowBest Forex Trading Robots To Invest In 2022 Q1…

Leave a Reply

Your email address will not be published. Required fields are marked *

2 + 4 =