Despite the rising price of raw ingredients, it has been more good news from Greggs this morning with its 4th quarter trading update. The company continues to evolve from traditional bakery to a ‘food-on-the-go’ provider and store refurbishments are being rolled out to accommodate this. New store opening are also being seen, with total sales for the 2017 calendar year up an impressive 7.4%.
More good news from the High Street with JD Sports providing the market with its Christmas trading update today. Like for like sales have increased as expected at around 3% but more importantly, the company’s forecasts for the full year have been revised upward. Profits had been expected to come in at between £270m and £295m, but a figure of £300m is now anticipated when the numbers are published just after Easter.
After yesterday’s defensive call over a possible deal with noodle giant Nissin, Premier Foods has provided its latest market update in a bid to woo shareholders. Debt is being paid down and sales by and large look impressive. Growth has been seen for six of the company’s eight major brands, a record 220 million mince pies were sold in the run up to Christmas and the only notable slow down was in UK sales of the cakes it produces under license for Cadbury. Short term capacity constraints were cited as the reason here – investors will however want reassurance this problem has been overcome.
