Greggs announces ‘good’ first half results

Greggs’ blend of quality and value is going down well with price-conscious consumers, according to CEO Roger Whiteside
01/08/2017 - 09:41
UK bakery chain Greggs has announced positive first half results with an increase in both its like-for-like and total sales.

Total sales were up 7.3% to £453 million while like-for-like sales across company-managed shops were up 3.4%.

The company, which has over 1,800 retail outlets across the country, reported operating profit was up to 1.8% to £27.6 million, although this figure was down from 2016’s H1 results.

Chief executive, Roger Whiteside, said: “The business has traded in line with our plans during the first half of the year.

“We have made good progress with our strategic plans and remain confident of future prospects although we remain alert to short-term pressures on consumers’ disposable income.

“Over the year as a whole we expect to deliver results in line with our previous expectations as well as further progress against our strategic plan.”

Greggs, which has opened 61 new shops this year and closed 19, expects around 100 net new shops for the year as a whole.

In June, the company opened its first drive-thru store in Manchester. 

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