Download full report with analyst certification and important disclosures
Jul 29 2026, 08:34 IST/BST
Greggs plc
H1-26 update – solid profit delivery
- Sectors : Foods
- Companies : Greggs plc
DAVY VIEW
Greggs delivered H1 like-for-like (LFL) growth of 2.1% (VA consensus: +2.3%, Q1: +2.5%, Q2 implied: +1.7%) across its company-managed estate. H1-26 profit growth was particularly strong with operating profit of £86.5m (VA: c.£82m, 5% beat), supported by disciplined cost control and the phasing of cost inflation. Management now expects overall input cost inflation of c.2.2% (previously 3%) and reiterates overall FY26 guidance. At first glance, we see moderate upside to our current forecasts.
