Greggs' plans to double its revenues can deliver strong and sustained profits growth. This outcome looks as if it is already priced into the shares.
There has never been any doubt in my mind that Greggs has been a very good business for a very long time.
Its ownership of bakeries has long given it a source of competitive advantage and allowed it to sell food on-the-go at very attractive prices. The difference in pricing between Greggs and rivals such as Pret a Manger, Starbucks and Costa is stark and is something that investors in Greggs should be very optimistic about in my view.