Greggs raises pre-tax profit forecast to £86m after rich run of form

Greggs is forecasting pre-tax profits of £86m for 2018 after an unexpected uptick in sales over the past two months.

The food-on-the-go retailer revealed total sales increased 9% during the right weeks to 24 November, with company-managed shop like-for-like sales up 4.5%.

Greggs said the like-for-like performance was ahead of expectations while good cost control also boosted the business.

In the year-to-date, total sales have grown by 6.6% and like-for-like sales have increased by 2.5%.

The company, which runs 1,900 retail outlets, stated: “This stronger trading in October and November is particularly encouraging as it builds on good comparative sales in the same period last year.

“Operational costs have been well controlled and, whilst there is still much to play for over the final few weeks of the year, the board now anticipate that full year underlying profit before tax (excluding exceptional charges) will be at least £86m.”

VIDEO: Watch Greggs fool foodies into thinking they are eating gourmet grub

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