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Greggs (GRG) appoints new female boss and confirms still-warm sales and profits

By Adrian Holliday

10:59, 6 January 2022

Greggs logo
Corporate logo and shop on High Street – Photo: Shutterstock

British savouries-and-snacks maker Greggs confirmed strong sales across its 2,181 stores in the Christmas run-up. It added that Roisin Currie will become the company's new CEO. 

In early trading, Greggs shares slipped 1.19% to 3,331.74p. The company’s share price has increased in the last 12 months, hitting a high of 3,443.00p and a 1,789.00p low. 

The FTSE 250-listed business reported £1.23bn in sales for the year, 5.3% higher than in 2019, supported by 131 shop openings. Full-year results will be ahead of expectations, the company said

In the fourth quarter, like-for-like sales were up 0.8% across a two-year metric, although Greggs says “challenging conditions” are bearing down on consumers.  

Supply chain and cost-of-living pressures bite

The company saiod that the latest quarter numbers were achieved against a backdrop of continued disruption to its supply chains. It noted that while conditions in the first few months of 2022 are tough “we are confident that we are well placed to make progress on the many attractive opportunities that lie ahead.


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“Our teams across the business have done a magnificent job coping under difficult circumstances and in recognition of this we brought forward the planned 2022 pay awards for our operational teams by five months."

Extra shareholder pay-out baked in

Roisin Currie has been with Greggs for more than a decade – she’s currently the company's retail and property director. She will replace Roger Whiteside in May. 

The Newcastle upon Tyne-based business says it plans an extra shareholder pay-out of £30m-£40m this year. 

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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