Sep 30, 2026 · 6 min
Greggs cuts costs as Saga beats forecasts and Tullow loses Ghana case
Greggs Dips, Saga Jumps, Juventus Down
The episode shows how inflation, stronger-than-expected earnings and a tax ruling can send sharply different signals through UK-listed companies.
- 1Greggs reports stronger like-for-like sales while considering manufacturing consolidation and potential job reductions.
- 2Saga raises guidance after first-half profits beat expectations, putting its medium-term targets within earlier reach.
- 3Tullow plunges after losing a Ghana tax arbitration case that threatens cash flow from its main oil field.
Don't miss
Tullow plunges more than 50% after losing the Ghana tax arbitration case tied to its main oil field.
The brief
Bloomberg’s Stock Movers Report compares three sharply different market reactions: Greggs manages inflation and restructuring, Saga raises expectations, and Tullow absorbs a damaging Ghana arbitration loss.
Greggs reports improved like-for-like sales, but inflation pressure is pushing the bakery-food retailer toward manufacturing consolidation and cost cuts that could affect jobs.
Saga shares surge after first-half profits significantly exceed expectations, prompting higher guidance and suggesting the company could reach its medium-term goals ahead of schedule.
Tullow falls more than 50% after losing a Ghana arbitration case over taxes tied to its main oil field, threatening cash flow the producer has relied on.
Together, the moves capture three distinct market tests: whether cost savings can offset inflation, whether strong results can reset expectations, and whether legal risk can undermine liquidity.
What was said on this episode
8 statements · 4 positive · 4 negative
Greggs’ latest-quarter like-for-like sales growth increased to about 3.4%.
“The results today were pretty good. We had an uptick in like-for-like sales growth to about 3.4% in the latest quarter.”
Listen at 1:20
Greggs shares rose as much as 9%, reaching a two-month high.
“we've seen shares rise by about as much as 9% this morning, hitting a 2-month high”
Listen at 1:40
Greggs faces inflation and new-distribution-center cost risks into 2027.
“there are some risks as we head into 2027, including rising inflation and some additional costs for its new distribution centers”
Listen at 1:54
Saga’s first-half profits substantially exceeded expectations.
“Profits came in well ahead of expectations in the first half of the year.”
Listen at 2:13
Saga shares are moving back toward their 2019 high.
“shares are now moving back towards the 2019 high that they hit last month”
Listen at 2:33
Tullow lost a Ghana arbitration case concerning taxes on its main oil field.
“it's lost the arbitration case in Ghana regarding taxes linked to its main oil field”
Listen at 3:16
Tullow relies on core-asset cash flow to reduce its substantial debt burden.
“Tullow has been relying on the cash flow from its core assets to try and pay down quite a hefty debt burden”
Listen at 3:24
Tullow faces additional arbitration cases in Ghana and Kenya.
“there are some more arbitration cases going on in Ghana and also in Kenya”
Listen at 3:45
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.