Key facts
- Greggs reported total sales of £1.1bn for the first half of the year, a 7.2% increase year-on-year.
- The company opened 34 new stores, bringing its total to 2,773 outlets.
- Profit before tax rose by nearly 20% to £76m.
- New products like iced matcha lattes and chicken rolls contributed to sales growth.
- Sales at existing stores increased by 2.1%.
Greggs has reported a significant increase in sales for the first half of the year, with total sales reaching £1.1bn, a 7.2% rise compared to the same period in the previous year. This growth was attributed to the introduction of new menu items, including iced matcha lattes and chicken rolls, which proved popular during summer heatwaves, as well as an expansion of its salad and 'bake at home' ranges.
The company also continued its store expansion, opening 34 new sites on a net basis, bringing the total number of Greggs outlets across the UK to 2,773 by the end of June. Sales at existing stores saw a 2.1% increase.
Pre-tax profit for the first half of the year rose by almost 20% to £76m, a performance Greggs linked to effective cost control and the success of its expanded product offerings. This marks a turnaround from the previous summer when sales were impacted by hot weather.
Chief executive Roisin Currie stated that the results demonstrate the company's ability to "outperform the market" and reaffirmed its focus on strategic location expansion and menu innovation to meet evolving customer tastes. Financial analyst Julie Palmer noted that Greggs must continue to balance pricing and cost control amidst economic challenges and the growing use of weight-loss drugs.