Thursday, 5 March 2015

Greggs On A Roll

Today, shares in the 75-year-old Newcastle-based baker closed at an all-time high at 963p after it revealed record breaking pre-tax profits, up 49 per cent at £49.7m on sales up 5.5 per cent at £804m. Now all the debt-free Greggs has to decide is what to do with all its spare cash. Two options are: a share buyback programme, which could force the share price even higher, or a special dividend.It currently turns over 2.5 million sausage rolls and a million cups of coffee a week across its 1,650 sites, which it wants to grow to 2,000. Story contribution thanks to Nathan Parr.