Food-on-the-go retailer Greggs has posted a rise in sales and profit as it makes “good progress” on expanding its ranges and growing its store estate.
In the 26 weeks to June 29, total sales grew 13.8% to £960.6m, while company-managed shop like-for-like sales increased 7.4%.
The group’s underlying profit before tax rose 16.3% to £74.1m.
Greggs’ store estate continues to grow as it saw 51 new shops open in the first half of the year, as well as 30 relocations taking its total number of stores trading to 2,524.
It also plans to roll out its popular “over-ice drinks range” currently available in 500 shops to a further 200 shops this year.
Hot food continues to perform well, while sales through the delivery channel comprised 6.7% of company-managed shop sales during this period.
Greggs is also on track to complete the redevelopment of Birmingham and the extension of Amesbury distribution centres in the second half of 2024, creating logistics capacity for an extra 300 shops.
Greggs chief executive Roisin Currie said: “Greggs has made good progress in the first half of the year, further broadening our range of on-the-go food and drink while making it more accessible to more customers.
“Our success is founded on the exceptional value that Greggs offers to customers looking for food and drink on-the-go and the fast and friendly service delivered by our colleagues.
“Our cost outlook for 2024 remains unchanged and we continue to trade in line with our plan. The board remains confident in the long-term growth strategy, and we are investing to support that growth.”
No comments yet