StockMarketWire.com - Bakery chain Greggs on Tuesday upgraded its expectations for full-year pre-tax profits on the back of a strong October and November.

Full year profit before tax, excluding exceptional charges, was expected to come in at least £86m. The company previously forecast pre-tax profits would be roughly in-line with last year's profit of about £72m.

In the eight weeks to 24 November 2018, total sales grew by 9%, faster than the 8.2% pace seen last year, and like-for-like sales in company-managed shops increased by 4.5%, in-line with the pace from a year earlier.

In the year-to-date, total sales grew by 6.6% and like-for-like sales have increased by 2.5%.

'This stronger trading in October and November is particularly encouraging as it builds on good comparative sales in the same period last year,' Greggs said.

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