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Greggs plc >
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Greggs - Very tasty

  • 04 Mar 2020

Greggs - Very tasty


Greggs plc (GRG:LON) | 1,984 456.2 1.2% | Mkt Cap: 2,012m


  • Edison
    • Russell Pointon

    • 3 pages

Food Wholesale & Retail image



 
Food Wholesale & Retail image



Greggs’ FY19 PBT was 1% ahead of our expectations and current trading suggests it will continue to take market share in the growing food-on-the-go market. Greggs has many opportunities to accelerate growth in the medium term: more and larger stores; the shift from a single channel to multichannel; further product innovation; and more investment in its supply chain, funded by strong cash generation. There is near-term risk, as with the sector in general, if the coronavirus results in people staying away from public places. Our PBT forecast for FY20 increases by 2% and our DCF-based valuation increases by c 4% to 2,188p.


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Greggs - Very tasty


Greggs plc (GRG:LON) | 1,984 456.2 1.2% | Mkt Cap: 2,012m


  • Published: 04 Mar 2020
  • Author: Russell Pointon
  • Pages: 3
  • Edison


Greggs’ FY19 PBT was 1% ahead of our expectations and current trading suggests it will continue to take market share in the growing food-on-the-go market. Greggs has many opportunities to accelerate growth in the medium term: more and larger stores; the shift from a single channel to multichannel; further product innovation; and more investment in its supply chain, funded by strong cash generation. There is near-term risk, as with the sector in general, if the coronavirus results in people staying away from public places. Our PBT forecast for FY20 increases by 2% and our DCF-based valuation increases by c 4% to 2,188p.



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