Tuesday 17 July 2018 | ShareProphets: The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares
Hello, Share Swipers. I may have commended Greggs (GRG) to you in the past. I think I might have changed my mind. This high street baker seems to be everywhere these days. It’s not only in busy areas but has also moved into transport terminals, housing estates and the like.
Hello, Share Takers. I’m not a great fan of Greggs (GRG) the baker. I rather disapprove of the sugary confections you see in its shop windows. This may be because of my dodgy teeth. But they do a very wholesome seeded loaf which is a mainstay of this family’s kitchen.
Shares in Greggs plc (GRG) are currently approaching 600p on the back of an update that operational improvement initiatives, lower costs and more favourable trading conditions than were expected mean “we now anticipate full year profits to be materially ahead of our previous expectation”. Is this already reflected in the share price or not?
Following my earlier analysis of UK baker Greggs plc (GRG)’s results for 2013, I have now received the updated view of house broker to the company, N+1 Singer. With it updating forecasts for this year and next, the following reviews.
Greggs plc (GRG), the UK baker, has announced results for 2013. After a challenging year, the shares have now fallen back below 500p, giving the company a market cap of just over £500million. The question now is, is there value to be had here or does the outlook remain dreary?
Greggs plc (GRG), the leading ‘bakery food-on-the-go’ retailer in the UK with 1,671 retail outlets, has updated on “strong demand” over the Christmas period and that it anticipates that it “will report full year results in line with our previous expectations when we make our preliminary announcement on 26 February 2014”. This has helped the shares more than 10% higher today, to a current 493p – so what’s baking here?
Following the sage RSS’s piece HERE, the following takes a look at the specifics of today’s third quarter 2013 update from leading bakery food-on-the-go retailer in the UK, Greggs (GRG), including the reaction of broker to the company, N+1 Singer.
The period to September saw better than expected sales for Greggs (GRG). The shares look very cheap on fundamentals but there is scope to take a decent trading profit on my earlier conclusion that the shares are a buy at 400p - not a sell, as others wrongly concluded last summer.
Having recently concluded that Greggs plc (GRG) looked to have a tough few years ahead (see HERE), I read yesterday’s analysis by the esteemed Robert Sutherland Smith ('RSS', read HERE) with much interest. The following brings the view of broker to Greggs, N+1 Singer, into the mix…
Greggs the bakers (GRG) has seen its share price return to just below the level it reached at the time of the Q1 results. Last seen, the share price stood at 392p in contrast to the price of 412p when I said that its fundamental attractions prompted me to add it to my buying list. So having looked at these latest quarterly results have I altered that judgement?
I previously commented on FTSE-250 constituent Greggs plc (GRG) in April HERE when the shares were trading at 420p. I concluded then that the stock did not look particularly attractive given that key headwinds the company was facing showed little sign of abating any time soon. This has been borne out by results for the first half of the 2013 calendar year from the company today – which have seen the shares fall to just above 400p, capitalising it at just over £400 million. The following updates…
There is something comforting about Greggs (GRG) the Newcastle based convenience food company; as reassuring as Geordies cheerfully tucking into sausage rolls, whilst sitting astride a cask of Newcastle Brown to the sound of a brass band playing “Pick ya feet up Geordie Hinnie” - and what is wrong with than man, do I hear you ask?
I commented after Greggs plc (GRG), the UK’s leading bakery retailer, announced results for 2012 last month that, with the shares at 492p, a continuingly unfavourable growth outlook meant the overall investment proposition did not strike me as attractive.
Shares in Greggs plc (GRG), the FTSE 250 leading bakery retailer in the UK with more than 1,670 retail outlets throughout the land, at the time of writing trade more than 6% lower today at 492p. This follows the company’s release of results for its year to 29th December 2012. The following reviews the results and outlook for the company from here…
Yesterday Greggs (GRG), the leading bakery retailer in the UK with more than 1,670 retail outlets, released an update on trading for the Christmas and New Year period (5 weeks ended 5th January 2013) and for its 2012 financial year (52 weeks ended 29th December 2012). This included that the company anticipates that it “will report full year results broadly in line with expectations when we make our preliminary announcement on 13 March 2013”. However there were caveats and with concerns about the UK economy and consumer spending – particularly on the high street, the following is my take on the current outlook for this company…
I have always been a fan of Greggs (GRG) the UK’s largest retailer of sausage rolls, puff pastries and all the other sort of comfort food that helped me to become a diabetic. The company has always had net cash, benefitted from operational gearing and delivered solid year on year earnings increases. But in 2012 things appeared to start to go slightly awry and the share price has fallen from 550p at the start of the year to 458p. As recently as 7th November I foreasaw a bounce ( at 470p) but I have been reviewing my assumptions about UK consumer behaviour. As such I apologise for that bad call, a volte face is on the way.I would like to buy this stock as fundamentally it is a good business serving six million Britons each week. But ....
I recommended shares in the UK’s leading bakery retailer, fully listed Greggs (GRG) at 508p on t1ps.com the website I founded in 2000. The share tip came out just two months before my departure in September of this year. The shares traded above 520p as recently as 8th October but, following an 11th October trading update, currently trade at 470p. The following takes a look at that trading update and what it means for the investment case.
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