On 2023 FY results I calculate a 3% FCF yield (on todays market value) accounting for lease repayments. That does not look that attractive to me. Sales grew 10% in 2024 over 2023, so that's still only 3.3% FCF yield, assuming margins the same.

If there is a robust growth outlook with a lot more shops opening, then it might be an ok entry here. Or is there some cost saving with more efficiencies? Those are probably the two main questions I would be asking. also more detail on the lease obligations which complicates things when valuing.

You have said nothing there that wasn't known before the RNS and huge fall.
I can only assume the share price had got ahead of itself with unrealistic growth expectations ? The P/E looks too high in the upper teens - lots of consumer facing businesses trading at mid single digit P/Es in the Labour dustbin called the UK.

I remain hopeful of good updates and dividend declarations from:
Ramsdens (14th Jan) - bolstered by the gold price - Rolex anyone.
Card Factory (14th Jan) - have been sticking to their yr end projected numbers even in December despite a big miss with costs at the half year. Supply all the UK Aldi stores and just tiptoeing into the US market.
Marston's (21st Jan) - Hopefully turning a corner after £300M of debt reduction from selling the brewing business. (still carry £880M+ of debt though). Seem unusually relaxed about the budget, planning for customers to order by App. £2.1 Billion of pub properties gives a NAV of 103p vs a share price of 41p.
Mobico (late Feb) - A long slow climb back from the covid scamdemic after getting pulverised by the driver shortage and wage blackmail alongside fixed price contracts in an inflationary world. Mired in debt but divestment offers a possible route out. A billion customer journeys every year.
Saga (30th Jan) - Pulverised by the pandemic and having sold 3 year fixed price insurance into a newly inflationary world. Climbing back having done a partnership deal for their insurance business. They need to refinance debt on their two cruise ships or go under. Voted best cruise line for luxury holidays in the British Travel awards for the 3rd year running (shh - are they any others ?)

Based on market reactions to recent results (MKS, Sainsbury, Tesco etc) it will matter not whether they are good or bad, all the share prices will tank. Fear and Rachel from Customer Complaints stalk the UK and everyone sensible has all their money in the bank now.

PS DYOR and do not buy any of the above dog shit companies, no-one else is and shorters abound.
PPS Any thoughts on the above welcome before I end up sleeping in a cardboard box until my maker collects me.

It's not showing that it is in a net cash position. Why is revenue growth double that of expected earnings growth? Earnings growth suggests it was grossly overpriced. It still is expensive in relative terms! The P/E ratio should be between 8 and 12 in my opinion.

There's a lot of negativity towards UK companies, often with examples to back it up. However, I find there are plenty of strong growth businesses in the UK that operate globally and have a greater runway than Greggs. For instance, Greggs has a P/E ratio of 16, yet a quality company like Clarkson (CKN) was available at a very reasonable price this year. Even in the food sector, Premier Foods, with a P/E of 15, offers better growth potential.

One of the fastest-growing businesses in the UK is GAMA. Its P/E ratio is gradually decreasing to 25, and it has expanded globally to the US with earnings growth of over 50% recently. This is one stock guaranteed to go up this year when it moves to the FTSE250.

Consider QinetiQ Group (QQ), one of the best-growing profitable companies in military AI, cybersecurity, drones, and other services, with a P/E of 17. It has divisions in the US and Canada. I own this stock recently, and I’ve already mentioned ALPH on this forum if rate stay high.

While the UK may be too small for a significant growth runway (most companies stall), any growth company must operate globally, and Greggs is not one of them.

Sausage rolls too small and the coffee is mean. They seem a bit limited in range to me and everything they sell gives me heart burn. Can't they figure out a solution to that? Besides, I prefer Sayers for bakery stodge.

Minimum wage and NICs being jacked up... cheaper alternatives for the crap they sell - like in the supermarket. Four sausage rolls for a pound. And soon Rachel from Complaints will return from China with her very own, brand new, original economic strategy: "The Great Leap Forward".

That said, they do seem to be popular. When I was in Leeds, nearly a third of the retail outlets in the city centre seemed to be Greggs. And I went to their factory whilst I was there funnily enough... seeing the lard-saturated process is a tad off putting.

I will invest though if the price is right and will monitor the Transactions thread assiduously for the right moment to copy others.

Meantime, out in the big wide world, the day before yesterday -

https://www.edinburghnew...-outdoor-seating-4936639