Bakery chain expects continued progress and sales growth

  • Greggs reports increase in 2023 pretax profit
  • Total sales also rise
  • Company backs midterm growth targets
  • Expects another year of progress
  • Like-for-like sales up 8.2% in first nine weeks of 2024
  • CEO confident in five-year growth plan

Greggs, the U.K. bakery chain, has reported an increase in pretax profit for 2023, driven by a record performance. Total sales also rose, contributing to the company’s positive outlook. Greggs has backed its midterm growth targets and expects another year of progress. In the first nine weeks of 2024, like-for-like sales in company-managed shops were up 8.2%. CEO Roisin Currie expressed confidence in the company’s five-year growth plan, which aims to double sales by 2026 and expand its presence in the UK.

Factuality Level: 10
Factuality Justification: The article provides factual information about Greggs’ financial performance, including pretax profit, total sales, dividend declaration, and sales growth. There are no digressions, misleading information, sensationalism, bias, or logical errors present in the article.
Noise Level: 3
Noise Justification: The article provides relevant information about Greggs’ financial performance, including pretax profit, total sales, dividend declaration, and future growth targets. It stays on topic and supports its claims with specific data and quotes from the company’s CEO. However, it lacks in-depth analysis, accountability, antifragility considerations, and actionable insights, which prevent it from receiving a higher rating.
Financial Relevance: Yes
Financial Markets Impacted: The financial markets may be impacted by the positive performance and growth targets of Greggs, a U.K. bakery chain.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article discusses the financial performance and growth targets of Greggs, indicating its relevance to financial topics. There is no mention of any extreme event.
Public Companies: Greggs (N/A)
Key People: Roisin Currie (Chief Executive)

Reported publicly: www.marketwatch.com