Greggs – Strong Rise in Like For Like Sales

Greggs GRG Third quarter sales grew by 8.6% over the 13 weeks to the 30th September. On a like for like basis the rise was 3.9%. For the year to date, like for like sales in company managed shops were up by 5% compared to 2.8% in 2016. So far in the current year 98 new shops have been opened and 32 closed with a total of 1830 trading at the quarter end. Recent trading has benefited from greater product availability and service.

Ferguson FERG enjoyed another good year in the 12 months to 31st July, with profit before tax nearly doubling from £675m. to £1180m. and the final dividend increased to 73p. making a total for the year of 110p, a rise of 10%. In addition a 500m share buy back program is announced which is expected to be completed over the next 12 months. Annual revenue rose by 22.5% or 6% on a like for like basis, whilst headline earnings per share rose by 6.8% at constant exchange rates. Momentum is expected to continue over the coming year.

Electrocomponents plc ECM expects first half headline profit before tax to rise to 78m. compared to last years 55m. The good trading seen in the first quarter has continued into the second quarter, with stronger than expected progress leading to faster revenue growth and gains in market share,  in all five regions. Group revenue for the quarter rose by 14%.

AB Dynamics ABDP expects revenue and profit before tax for the year to 31st August will be slightly ahead of analysts forecasts, with significant year on year growth in underlying revenue and profit before tax.

Inland Homes INL will today start a share back program of up to 1 million 10p ordinary shares, to be completed by 31st December 2017.

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