POPULAR SHARES

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IT MAY look modest, but Greggs has been a tremendous investment with the share price almost quadrupling in the past five years.

The bakery business has increased like-for-like sales so far this year by 11pc. Not bad given the gloom engulfing much of the retail sector. As well as selling more, it is opening outlets to drive growth.

Part of Greggs’ success is down to savvy products and smart marketing.

Its vegan sausage roll set tongues wagging and lured customers, but it has also been clever about where its stores are situated, moving away from shopping centres towards office and transport hubs where footfall isn’t damaged by the shift to online shopping.

Greggs also boasts an enviable track record of growing its dividend over the past 30 years, and even intends to make a special payment to shareholders later this year.

While high expectations are already baked into the firm’s share price, which does open the door to potential disappointments, it takes a strong stomach to bet against Greggs’ continued success.