Greggs has reported FY15 finals slightly above expectations, has had a cracking start to FY16 with 4.2% LFL sales and outlined a cost efficient plan to grow the estate significantly beyond 2000 shops. We upgrade FY16-FY17 EPS by 2-3% and believe the risk is on further upside. We see fair value towards c.1200p.
01 Mar 2016
FY15 finals – positive strategic & LFL news
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FY15 finals – positive strategic & LFL news
Greggs plc (GRG:LON) | 2,682 -160.9 (-0.2%) | Mkt Cap: 2,742m
- Published:
01 Mar 2016 -
Author:
Sahill Shan -
Pages:
5
Greggs has reported FY15 finals slightly above expectations, has had a cracking start to FY16 with 4.2% LFL sales and outlined a cost efficient plan to grow the estate significantly beyond 2000 shops. We upgrade FY16-FY17 EPS by 2-3% and believe the risk is on further upside. We see fair value towards c.1200p.