GRG – a six-month update

Approximately six months ago I write about GRG (Greggs) the bakers (http://is.gd/Gnbafj), 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.

www.stockopedia.com

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.

1148p

Advertisements

About mcturra2000

Computer programmer living in Scotland.
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s