LONDON (dpa-AFX) - British bakery chain Greggs PLC (GRG.L) reported Tuesday that its fiscal 2022 pre-tax profit increased 1.9 percent to 148.3 million pounds from last year's 145.6 million pounds.
Earnings per share were 117.5 pence, up from 114.3 pence last year.
Total sales grew 23 percent to 1.51 billion pounds in 2022 from last year's 1.23 billion pounds. Within this, company-managed shop like-for-like sales were 17.8 percent higher than in 2021.
Further, the company said its Board intends to recommend at the AGM a final dividend of 44.0 pence per share, up from 42 pence last year. This gives a total ordinary dividend for the year of 59.0 pence, higher than last year's 57.0 pence.
Regarding the current trading, Greggs said its like-for-like sales in company-managed shops went up 18.8 percent in the first nine weeks of 2023, in line with expectations and reflecting the impact of Omicron in the comparator period.
Looking ahead, Greggs said it is confident in prospects for 2023, and the medium-term opportunity to become a significantly larger multichannel business
Matt Davies, Chair, said, 'Despite the current inflationary pressures, we have a clear strategy and robust financial position underpinning our plans for long-term growth. We remain confident in the long-term potential of our business.'
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