Greggs adding stores after solid 2017

L Baker expects full-year figures to meet its forecasts as sales jump 3.7%

facility for the production of small cakes and muffins at its Leeds site.

It also aims to continue with refurbishments, revamping around 100 shops over 2018.

Hyett added: “It would have been tempting to fatten up the store estate without investing in the necessary infrastructure to support it. Greggs avoided those potential growing pains, while maintaining the vertical integration that makes it unique. The group expects to continue that trend for some years yet.

“The ongoing expansion has delivered great results for investors over several decades now – an ardent Greggs fan who invested £1,000 when the group first listed on the market back in 1984 would today have enough money to binge on around 276,244 of Greggs’ famous sausage rolls. A very healthy return.”

Also commenting was Darren Shirley of Shore Capital Markets. He said Greggs issued a “solid” trading update for the fourth quarter.

“With management stating that results are anticipated to be ‘in line with’ previous expectations we once again leave our [2017 full-year] forecasts unchanged.” These include current pre-tax profit of £82.6 million and earnings per share of 63.6p, “so year-onyear growth of 7.6 per cent”.