The Greggs plc Board has declared an interim dividend of 16.0 pence per share (2022: 15.0 pence), consistent with the first-half increase in earnings per share. The overall ordinary dividend for the year will be proposed in line with their progressive dividend policy, which targets a full year ordinary dividend that is around two times covered by underlying earnings.
Other financial highlights include:
Total first-half sales up 21.5%, with company-managed shop LFL sales up 16.0%
Underlying profit before tax excluding exceptional items up 14.2% to £63.7 million.
Reported pre-tax profit includes an additional £16.3 million of exceptional net income recognised in respect of the settlement of a Covid business interruption insurance claim
Strong cash position of £139 million supporting plans for future investment in growth
Underlying earnings growth of 4.5% reflects increase in Corporation Tax rate
