Greggs (LSE: GRG)

Last close As at 17/05/2024

GBP27.74

−10.00 (−0.36%)

Market capitalisation

GBP2,837m

With 2,473 shops and 12 manufacturing and distribution centres, Greggs is the leading UK ‘food-on-the-go’ retailer. It uses vertical integration to offer differentiated products at competitive prices. Its ambition is to grow revenue to £2.4bn by FY26.

Greggs’ ambition to double revenue by FY26 has four key growth drivers: growing and developing the estate; leveraging digital channels; extending trading hours to the evening; and broadening customer appeal and driving loyalty. All will be enabled by higher investment in the supply chain and systems.

Latest Insights

View More

Consumer | Update

Greggs — Encouraging start to FY24

Consumer | Outlook

Greggs — Showing us how it’s done

Consumer | edison tv

Greggs – executive interview

Consumer | Update

Greggs — A strong finish to FY23

Sector

Consumer

Equity Analyst

Russell Pointon

Russell Pointon

Director of Content, Consumer and Media

Milo Bussell

Associate Analyst, Consumer and Media

Key Management

  • Richard Hutton

    FD

  • Roisin Currie

    CEO

Balance Sheet

Forecast net cash (£m)

73

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 1.3 (0.6) 0.8
Relative (6.1) (9.1) (7.3)
52 week high/low 2878.0p/2282.0p

Financials

Greggs’ trading update for the first 19 weeks of the year shows that the company is driving superior revenue growth from its key initiatives of growing space, delivery and evening sales and leveraging the app along with its continuous menu enhancements, despite what has continued to be a challenging backdrop for consumers. The strong revenue growth on top of a tough comparative from the prior year includes both volume and price growth, which compares very well versus many other consumer-facing companies.

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2022A 1512.8 269.9 148.3 117.5 23.6 10.3
2023A 1809.6 299.2 167.7 123.8 22.4 8.4
2024E 2013.6 344.5 182.8 131.1 21.2 7.8
2025E 2230.9 385.0 201.4 144.4 19.2 7.0

Research

Update

Consumer

Greggs — A strong finish to FY23

Update

Consumer

Greggs — FY23 profit expectations reiterated

Update

Consumer

Greggs — Improving outlook for costs in FY23

Update

Consumer

Greggs — Continuation of strong trading in FY23

edison tv

Consumer

Greggs – executive interview

Outlook

Consumer

Greggs — Profits on the go

Update

Consumer

Greggs plc — Eye-catching revenue growth

Update

Consumer

Greggs plc — A ‘relative winner’

Further insights

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