Greggs plc announced interim management statement for the 17 weeks to April 27, 2013. For the period, the company's total sales grew by 3.0%, driven by new shop opening programme and the continued development of wholesale and franchise sales. Like-for-like sales in own shops in the 17 weeks to April 27, 2013 were 4.4% lower, particularly impacted by adverse weather in January and March.

Greggs plc reported consolidated earnings results for the and full year ended December 31, 2012. For the quarter, the company reported revenue of £734.50 million against £701.09 million for the same period last year. Operating profit was £53.29 million against £60.43 million for the same period last year. Profit before tax was £53.34 million against £60.50 million for the same period last year. Profit for the financial year attributable to equity holders of the parent was £40.57 million or 40.1 pence per diluted share against £44.50 million or 44.3 pence per diluted share for the same period last year. Net cash inflow from operating activities was £56.578 million against £73.78 million for the same period last year. Acquisition of property, plant and equipment was £46.04 million against £62.82 million for the same period last year. Like-for-like sales were down 2.7%. Operating profit before exceptional items was £51.8 million against £53.0 million in 2011, a 2.2% reduction. The result reflects the impact of reduced like-for like sales in the core Greggs estate, partially mitigated by the further development of its business with wholesale and franchise customers. The company reported sales results for the 16 weeks ended March 16, 2013. Total sales for the first 11 weeks to March 16, 2013 were up 4.2%, like-for-like sales were down by 4.0%. The Board of Greggs plc recommended a final dividend of 13.5 pence per share compared to 13.5 pence per share in 2011. Together with the interim dividend of 6.0 pence, paid in October 2012, this makes a total for the year of 19.5 pence compared to 2011: 19.3 pence per share in 2011. This is an increase of 1.0%, maintaining cover by diluted earnings per share before exceptional items of 2.0 times. Subject to the approval of shareholders at the Annual General Meeting, the final dividend will be paid on May 24, 2013 to shareholders on the register on April 26, 2013. The company plans capital expenditure of £55 million £65 million in 2013, dependent on timing of the construction of its £30 million frozen manufacturing facility in the East Midlands. The rate of new shop openings is expected to reduce to 50-60 net shops, and it will invest in around 250 shop refurbishments in 2013, including the roll-out of its "Greggs the Bakery" format.

Greggs plc, 2012 Earnings Call, Mar 20, 2013