Greggs bounces back from rocky start to the year
Strong appetite for peach iced tea, mint lemonade and pizza helped improve sales at the bakery chain Greggs in recent weeks, giving management confidence the company will deliver on expectations this year.
Shares in the company, which have shed a quarter of their value since the start of the year, jumped as much as 8 per cent in morning trading.
The high street purveyor of sausage rolls and steak bakes said like-for-like sales at its company-managed shops rose 2.9 per cent in the first 20 weeks of its financial year, citing 'better trading conditions'. Total sales for the period rose 7.4 per cent to £784 million.
The rise in sales follows a disappointing start to the year, with sales in the first nine weeks
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