H1 results are much stronger than anticipated with PBT +52% and LFL’s c.6% vs. our 5.5%. Momentum going into H2 is good and this is reflected in a positive outlook statement. Greggs has also been clear about the NLW, with its starting position relatively favourable thus limiting any short-term earnings impact. We push through further EPS upgrades of 2.5% - 4.5% which help underpin the premium rating. We firmly feel that Greggs’ business model is in great shape and on growth considerations/ retur ....
29 Jul 2015
Very strong interims and wind in its sails going into H2
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Very strong interims and wind in its sails going into H2
Greggs plc (GRG:LON) | 2,696 161.8 0.2% | Mkt Cap: 2,757m
- Published:
29 Jul 2015 -
Author:
Sahill Shan -
Pages:
5
H1 results are much stronger than anticipated with PBT +52% and LFL’s c.6% vs. our 5.5%. Momentum going into H2 is good and this is reflected in a positive outlook statement. Greggs has also been clear about the NLW, with its starting position relatively favourable thus limiting any short-term earnings impact. We push through further EPS upgrades of 2.5% - 4.5% which help underpin the premium rating. We firmly feel that Greggs’ business model is in great shape and on growth considerations/ retur ....