GRG – a six-month update

Approximately six months ago I write about GRG (Greggs) the bakers (, saying that the company, although high quality, was too stodgy to justify a PE in the 20’s. Its RS6m was in the top decile, but I thought that the momentum could not be sustained.

In the meantime, the shares rose to a high of about 1355p in July, but then dropped back significantly. The shares now trade at 1148p, only slightly above the price of 1144p I stated six months ago.

Despite my reservations, the shares have acquitted themselves well against the broader index. The ASX is down nearly 10%.

So far, the market has proven me wrong.



About mcturra2000

Computer programmer living in Scotland.
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