Food-to-go chain Greggs has posted robust first-half sales and profit growth after continuing to open new stores and broaden its range.
Over the six months to 29 June, total sales rose by 13.8% to £960.6m, while underlying pre-tax profit before exceptional items jumped 16.3% to £74.1m.
Company-managed shops saw like-for-like sales increase by 7.4%.
Greggs noted that its menu development was supporting growth across all dayparts and channels, particularly its over-ice drinks range and dedicated pizza deals.
Chief Executive, Roisin Currie, commented: “Greggs has made good progress in the first half of the year, further broadening our range of on-the-go food and drink whilst 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.”
During the period, the company opened 99 new sites, including 30 relocations, and is on track to deliver 140 to 160 net new shops in 2024. It also exchanged contracts for the purchase of a site in Kettering where a new national distribution centre will be built.
Looking ahead, Currie added: “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.”
