Greggs PLC 

Greggs PLC (LSE: GRG) is an FTSE 250 index listed British food-on-the-go retailer that employs nearly 25,000 people and operates over 2,200 shops.

FY24 Preliminary Results (Released on 04 March 2025)

1. Sales Growth: Greggs achieved a significant milestone in 2024, with total sales reaching £2.014 billion, marking an impressive 11.3% increase compared to £1.810 billion in 2023. The company also saw strong like-for-like sales growth in its company-managed shops, with a 5.5% year-on-year increase.

2. Profit Improvement: Greggs demonstrated robust profit growth in 2024, with underlying pre-tax profit increasing by 13.2%, reaching £189.8 million (up from £167.7 million in 2023). Total pre-tax profit, including exceptional income, rose by 8.3% to £203.9 million.

3. Earnings per Share: The company’s underlying diluted earnings per share (EPS) rose by 11.1% to 137.5p for the year, reflecting strong operational performance. Including exceptional income, the diluted EPS increased by 7.5%, reaching 149.6p. The growth in earnings per share is aligned with the overall progress Greggs has made in expanding its operations and enhancing its market share.

4. Dividend Increase: Greggs continued its commitment to rewarding shareholders with a 11.3% increase in the total ordinary dividend per share, bringing the payout to 69.0p for 2024, up from 62.0p in 2023. The final dividend of 50.0p per share is in line with the growth in underlying diluted EPS and reflects the company’s strong financial position and ongoing confidence in its future prospects.

5. Expansion and Growth: In 2024, Greggs expanded its footprint with a record 226 new shops across the UK, raising its total estate to 2,618 shops by the end of the year. With the continuing success of this expansion strategy, the company has set a target of 140-150 net new openings in 2025.

6. Digital and Delivery Growth: Greggs has seen significant growth in its digital channels, with 20.1% of transactions in company-managed shops being scanned through the Greggs app, up from 12.5% in 2023. Additionally, the company’s delivery services saw a 30.9% increase in sales, now representing 6.7% of company-managed shop sales.

Share Price Chart

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Greggs PLC (LSE: GRG) was trading at the current market price of GBX 1,955.00 (as of 05 March 2025, 08:55 AM GMT)

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 05 March 2025. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 4: Dividend Yield may vary as per the stock price movement.