November 11, 2019 / 7:17 AM / a month ago

Britain's Greggs upgrades profit outlook

LONDON, Nov 11 (Reuters) - British baker and takeaway food group Greggs on Monday forecast a 2019 pretax profit ahead of previous expectations after enjoying strong trading despite comparatives with last year getting progressively harder.

The firm, which trades from over 2,000 UK retail outlets, said total sales grew by 12.4 pct in the six weeks to Nov. 9 - its fourth quarter to date. Like-for-like sales in company-managed shops were up 8.3%.

“Sales growth continues to be driven by increased customer visits and has been stronger than we had expected given the improving comparative sales pattern that we saw in the fourth quarter last year,” Greggs said.

Reporting by James Davey; editing by Kate Holton

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