Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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Greggs PLC (GRG)

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Wednesday 30 April, 2014

Greggs PLC

Interim Management Statement

RNS Number : 8333F
Greggs PLC
30 April 2014
 



 

 

 

 

 

30 April 2014

GREGGS plc

INTERIM MANAGEMENT STATEMENT

 

Greggs is the leading bakery food-on-the-go retailer in the UK,

with almost 1,700 retail outlets throughout the country

 

Good trading year to date

 

·    Total sales in the 17 weeks to 26 April 2014 up 4.0%

·    Own shop like-for-like sales in the first 17 weeks up 3.7% (2013: 4.4% decline)

·    66 refits completed

·    20 new shops opened, 28 closures

·    Input cost inflation below expectations

·    Property gains on disposal £1.4 million (2013 £0.2 million)

Trading performance

 

Trading so far this year has been good, continuing the trend seen in the final quarter of 2013.  Our total sales for the 17 weeks to 26 April 2014 grew by 4.0 per cent.  Like-for-like sales in our own shops grew by 3.7 per cent over the same period.

 

Our year-on-year performance is in part benefiting from comparison with a period of weak trading in 2013 when like-for-like sales for the first 17 weeks declined by 4.4 per cent, impacted by snow in January and March 2013.  In line with our strategy sales growth is also being driven by improved availability of our freshly made sandwiches, longer trading hours and product upgrades such as our improved coffee blend, which is benefiting from inclusion within our popular promotional meal deals.  Greggs Rewards, our new mobile loyalty scheme, has started well and continues to build momentum.

 

Cost control has been strong in the year to date and input cost inflation has been lower than we have experienced in recent years.  As a result there has been some benefit to margin in the period.  The business remains highly cash-generative and maintains a strong balance sheet position.

 

Shops

 

During the first 17 weeks we completed 66 shop refurbishments in our 'bakery food-on-the-go' format, in line with our plan to refit around 200 shops during 2014.  These are performing well and the contemporary new look and feel, along with additional facilities such as seating, is being well received by both customers and staff.

 

We also opened 20 new shops, including 11 franchised units in transport locations.  We closed 28 shops, giving a total of 1,663 shops trading at 26 April.   As a consequence of our accelerated closure programme we have disposed of a number of freehold properties in the year to date.  This has realised property profits of £1.4million (2013 £0.2 million).

 

Organisational Change

 

We have completed the formal consultation period in respect of our proposals to close 79 in-store bakeries and improve our operational effectiveness in support areas. The agreed changes in support areas are complete and new structures are in place.  The closure of in-store bakeries is on-going and we anticipate that the majority of these will be completed by the end of this year.

 

Outlook

 

Market conditions remain highly competitive but we are encouraged by the performance in the year to date.  We have delivered continuing improvement in like-for-like sales, albeit against the weak comparatives of last year, and strong cost control.  We have also benefited from property disposal profits and lower than expected input cost inflation.  As a result, we expect to deliver a good first half outcome.

 

The second half is likely to be more challenging as we come up against relatively stronger sales comparables and likely cost inflation.  Overall we expect to deliver satisfactory financial results for the year and good further strategic progress.

 

 

ENQUIRIES:


Greggs plc

Hudson Sandler

Roger Whiteside, Chief Executive

Wendy Baker / Alex Brennan

Richard Hutton, Finance Director

Tel:  020 7796 4133

Tel:

0191 281 7721


 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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