Fast food group Greggs said first half profit before tax fell 14.3% to £63.5 million as it felt the impact of challenging market footfall, more weather disruption than in 2024, and phasing of cost headwinds.
Total first-half sales were up 7%, with company-managed shop LFL sales up 2.6% and franchised shop LFL sales up 4.8%.
Evening remains the fastest growing area, up to 9.3% of company-managed shop sales (H1 2024: 8.4%), driven by strong demand in higher-footfall locations.
Shares in Greggs have slumped 41% so far this year.
“After a challenging start to 2025 we remain clear on the strategic opportunities that lie ahead,” chief executive Roisin Currie said.
A standstill interim dividend of 19p pence has been declared.
Barclays
Barclays said its Tesco Bank acquisition boosted income as it reported a 23% rise in half-year profit.
Pre-tax profit came in at £5.2bn, while group income rose 12% to £14bn as trading in its global markets division boomed. Credit impairment charges rose £100m to £0.5bn.
The bank has launched a £1bn share buyback.
Card Factory
Card Factory is to buying FunkyPigeon from WH Smith for £24 million. As well as the website, and established online personalised card and gifting business, the deal includes a standalone team in Bristol and Guernsey.
Funky Pigeon made an average of £32 million in revenue in the last two years and around £5 million of EBITDA.
Early trading
Games Workshop shot higher as the Warhammer maker hailed a record year, posting a 29.5% jump in group pre-tax profit to £262.8m, beating the guidance of not less than £255m given in May.
Going the other way, student accommodation provider Unite fell despite adjusted earnings growing 15% to £144.2m, while adjusted earnings and dividends per share were both up 3% at 29.5p and 12.8p, respectively.
However, Unite said IFRS profits had sunk 34% in the six months ended 30 June to £186.1m, reflecting lower revaluation gains.
At 9am the FTSE 100 was 16.5 points higher at 9,097.94.
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