LONDON (dpa-AFX) - Greggs Plc (GRG.L), a bakery food-on-the-go retailer, reported Thursday that its fiscal 2018 pre-tax profit increased to 82.6 million pounds from 71.9 million pounds last year.
Pre-tax profit excluding exceptional items was 89.8 million pounds, compared to 81.8 million pounds a year ago.
Total sales grew 7.2% to 1.03 billion pounds from prior year's 960.0 billion pounds. Company-managed shop like-for-like sales went up 2.9%, compared to 3.7% increase last year.
Further, the company said its Board intends to recommend at the Annual General Meeting a final dividend of 25.0 pence per share, higher than last year's 22.0 pence. This gives a total ordinary dividend for the year of 35.7 pence, an increase of 10.5 per cent. The company currently expects to declare special dividend with interim results.
Regarding the current trading, the company said it recorded a very strong start to the year, with company-managed shop like-for-like sales up by 9.6% in the seven weeks to February 16.
The company said exceptional sales performance helped in part by publicity surrounding launch of the vegan-friendly sausage roll.
Roger Whiteside OBE, Chief Executive, said, 'Whilst there are significant uncertainties in the months ahead, Greggs has started 2019 in great form, helped in part by the publicity surrounding the launch of our vegan-friendly sausage roll. We hope to continue benefiting from this strong momentum during the first half of 2019 before facing stronger comparatives later in the year.'
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