StockMarketWire.com - Baked goods retailer Greggs upgraded its full-year profit outlook following stronger-than-expected sales, led by increased customer visits.

The company said it now anticipated that its full-year underlying pre-tax profit would be 'higher than our previous expectations'.

In the six weeks to 9 November, total sales grew 12.4%, up from 8.5% growth recorded in the previous corresponding period.

Like-for-like sales in company-managed shops increased 8.3%, compared with 4.0% growth a year earlier.

In the year-to-date, total sales grew by 13.4% and like-for-like sales increased by 9.2%.

'Sales growth continues to be driven by increased customer visits and has been stronger than we had expected given the improving comparative sales pattern that we saw in the fourth quarter last year,' Gregg said.

Operational costs remain 'well controlled', it added.

Story provided by StockMarketWire.com