May 10, 2021

Greggs upgrades profit forecasts

The bakery chain operator said profits for the year could be materially higher than the board's previous expectation. Provident posted a £113.5m pre-tax loss for 2020, versus a £119m profit the year before, as losses from its doorstep lending division ballooned to £74.9m. Trends improved for credit card lending and vehicle finance in the first quarter, Provident added. Funeral director Dignity said underlying operating profit rose 35 per cent to £26.1m in the first quarter, ahead of the board's expectations, after deaths increased year on year by 27 per cent. Safestore revised full-year earnings guidance upwards after posting revenue of £43.7m for the second quarter to April, up 11.2 per cent year on year. ADVFN said in a trading update that it expects a pre-tax profit for the year ending June to be in excess of £1m. The data provider for retail investors said it expected current momentum to be reflected in improving results and continuing growth.

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