Greggs FY pretax pre-ex falls 12.8 pct to 43.7 mln stg |
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Mon, 12 Mar 2007 08:44
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LONDON (AFX) - Greggs PLC, the UK's biggest bakery chain, said pretax profit fell 12.8 pct in the year to Dec 30 amid higher energy costs.Pretax profit, before the restructuring costs of Bakers Oven, fell to 43.7 mln stg, slightly better than the forecast from broker UBS of 43.0 mln stg. After restructuring costs, pretax dropped 19.8 pct to 40.2 mln stg.Full-year sales climbed 3.3 pct to 551 mln stg. Like-for-like sales for the year grew 0.5 pct, helped by the 0.9 pct seen over the second half.The group added that like-for-like sales in the nine weeks to March 3 rose 3.9 pct.Operating profit before restructuring costs fell 4.9 mln stg including energy costs up 4.5 mln.'While additional costs will be incurred as we reorganise and develop the Greggs brand, overall we expect that 2007 will be a year of progress for the group,' said chairman Derek Netherton.newsdesk@afxnews.comjc/lamCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Foul weather affects Greggs sales, first-half profit up 15% pre-tax 