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 2024 Greggs PLC Earnings Call Transcript

Jul 30, 2024 / 08:30AM GMT

Release Date Price: $11.18

Transcript

Roisin Currie

Greggs PLC - Chief Executive Officer, Executive Director

Okay. So we will make a start. First, just to say good morning. I'd like to think that Richard and I have brought the sunshine to London. So you can tell us if we have or not. And agenda today will be in the usual format. I will outline the results we've announced today and I will then hand over to Richard to take us through the financial performance in more detail. And after that, I will then take you through our strategic progress and finish with the outlook for the year.

So it's great to be able to stand here and report that we continue to make good progress. So as you can see on the slide, total sales are up almost 14% and on a like-for-like basis, that is 7.4%, while underlying pretax profits are increasing by just over 16% to GBP74.1 million. And very pleasingly, we've announced an interim dividend of 19p, which is just shy of 19%.

In terms of our strategic progress, we are continuing to grow and improve our shop estate. And so far this year, we have opened 99 new shops. That includes 30 relocations, and we

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