Please pass on sincere apologies to your other half.

Respect the scuttlebutt approach.


Likewise, the scuttlebutt is useful for those of us who can't get there, and someone has to do it, so thanks.



At the risk of making assumptions and ignoring new information, I might argue that not everyone is in the Greggs customer target demographic.

Yes, this seems to me to be the key point. The numbers don't lie, I guess lots of people want Big Macs and KFC and Greggs, but an optimistic like me thinks that people will try to eat better over time and if the quality is too awful, this may limit the upside.


Anyway, I have already said too much on this board about Greggs.

No, on the contrary, thanks for your contributions. I am not likely to go above my minimum (0.2%) stake, but I like uncorrelated good bets, and 10x earnings on a growing earnings stream is fine by me, even if the growth eventually stalls. The key point is not to push for growth if it's not profitable, and that's what I'll be following closely. Somewhat better food for the same price would be an unexpected bonus.

Regards, DTB

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