Today’s trading session is certainly successful for Greggs as it raises its shares by 2.85%. The price stands at 2595 GBP which is a 72-point gain since the previous close at 2523 GBP. As the market opened at 2500 GBP, the price has experienced only slight fluctuations in values. Unlike today’s trade, the company has been highly volatile since 2018. With a high beta score of 1.1, the company met its lowest point in September of 2021 at 1150 GBP. A few months later, the shares skyrocketed to 2713 GBP. Gregg is slowly recovering from the consequences of the Covid crisis. Since the ease of lockdowns in the UK, the firm was able to compete more effectively with its take-out services. The company heavily relies on a higher volume of customers, so Covid-19 has severely damaged Gregg’s shares and profits.
Despite a 3.9% drop in revenues, Greggs increased its earnings forecast last month. Nevertheless, profits are not expected to return to pre-pandemic levels until 2022.
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