Greggs PLC (OTCPK:GGGSY)

$ 11.62 1.22 (11.73%) Market Cap: 3.54 Bil Enterprise Value: 3.77 Bil PE Ratio: 20.64 PB Ratio: 5.68 GF Score: 96/100

Half Year 2019 Greggs PLC Earnings Call Transcript

Jul 30, 2019 / NTS GMT

Transcript

Roger Whiteside

Greggs plc - CEO & Director

Good morning, everybody, and thank you for attending this morning. So usual format. I'll take you through some highlights very quickly and then hand over to Richard to take you through the numbers in more detail. And then I'll come back on and give you a quick overview of how we're getting on with the strategic process and the operational improvements that we're making and touch on the outlook for the rest of the year. So -- then open up to questions.

So in terms of highlights, I mean you've seen now, it's another good period for us. It's been an exceptional year so far. Total sales are up 14.7%, like-for-like is 10.5%. And all of that is driving underlying profits up 58%, which reflects, obviously, the strong operational gearing in the business, but don't forget the weak comparative last year was impacted by Beast of the East (sic) [Beast From the East]. The cash position is very strong so that allows us both to support the investment in the business and confirm the special dividend that we've announced this morning. Meanwhile, we're getting on with

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