Greggs scrapes a 1% dividend increase for 2012

DividendMax Ltd.

Greggs scrapes a 1% dividend increase for 2012

Total sales up 4.8% to £735m

100 net new shops opened

Wholesale and franchise sales contributed 2.8% points to sales growth

Like-for-like sales down 2.7%

Pre-tax profit* down 2.2% to £51.9m

Diluted earnings per share up 0.5% to 39.0p

Dividend per share up 1.0% to 19.5p

"Success in our new business channels coupled with new shop openings saw total sales growing again this year despite challenging market conditions.

"We have reshaped our plans for 2013 to focus on our core estate by increasing investment in our successful new formats in 'food on the go' and 'local bakery'. At the same time we will continue to develop sales through new shop openings, and make further progress in new markets through our wholesale and franchise agreements."

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