How ‘Britain’s most admired company’ keeps delivering
At Greggs (LON: GRG) on Cheapside, the queue regularly stretches out of the door at lunch time. Demand was especially impressive on results day – perhaps some of the investment managers who have shared in the 122% share price rise in the last five years, were showing their support after another impressive set of numbers which saw both revenue and profits rise by double digits.
The roaring trade on Cheapside could be a side effect of the fact that there are only two premises in the square mile, compared to at least ten Pret a Mangers. Head to Newcastle (the company’s birthplace) and the disparity is reversed. In fact, in 2017 the Tab plotted the UK’s North/South divide based on the number of Greggs stores: “less than 25,000 people per Greggs is the benchmark to distinguish whether you live in the north”, the article said. At the time, Manchester had one Greggs per 10,500 people, while each premise in London was shared by over 92,000.
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