Greggs PLC (STU:41G1)
€ 32.4 0.2 (0.62%) Market Cap: 3.31 Bil Enterprise Value: 3.46 Bil PE Ratio: 19.80 PB Ratio: 5.27 GF Score: 95/100
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Q2 2021 Greggs PLC Earnings Call Transcript

Aug 03, 2021 / NTS GMT
Release Date Price: €32.85 (+1.96%)
Roger Whiteside
Greggs plc - Chief Executive & Director

Good morning, and thank you for joining us this morning. In a moment, I'm going to hand over to Richard Hutton to present our financial results, which I'll then follow, as usual, with an overview of our operational and strategic progress so far this year. We'll then end, as we do normally, with a comment on current trading and outlook before opening the live question-and-answer session.

As you would have seen in our statement released this morning, Greggs has delivered a strong first half recovery, which again showed its resilience in a challenging first half. With the actions that we put in place, we emerged from the lockdown months in a strong position to rebuild sales as social restrictions were progressively relaxed. Total sales for the first half were 9.2% lower than the equivalent period in 2019, but sales in the second quarter exceeded our expectations and delivered like-for-like sales growth against the same year.

I'm pleased to report that Greggs has restored profits to GBP 55.5 million in this first half, which followed

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