Greggs’ income handed £2bn final yr because of increased gross sales of pizzas, hen goujons and potato wedges, however the sausage roll stays its high vendor.
The agency historically identified for its baked items mentioned including extra objects to its menu was an indication of its “additional progress ambition”.
Greggs additionally revealed night gross sales had been up because it moved away from Excessive Streets and in the direction of prepare and bus stations.
Nonetheless, the agency’s gross sales had been lower than it had beforehand forecast because it mentioned price of dwelling worries would make buying and selling within the yr forward harder, and its shares slumped 12% on Tuesday morning.
“After years of economic anxiousness, [customers] are nonetheless dealing with issues about vitality costs and elevated mortgage and lease prices,” the corporate mentioned.
The agency additionally repeated its criticism of the federal government’s determination to extend employer Nationwide Insurance coverage contributions and different employment prices, including it could cross on these prices by increased costs.
Pre-tax revenue hit £204m in 2024, up 8.3% on the yr earlier than.
“Our sizzling meals menu is proving more and more well-liked, with pizza offers driving sturdy progress,” mentioned chief government Roisin Currie.
Nonetheless, she informed the NEWSTORN its menu enlargement would “completely not” imply abandoning its core merchandise, including that savoury baked items nonetheless made up a 3rd of its gross sales.
In the meantime, the corporate opened 145 new retailers final yr, because of its continued progress away from the Excessive Road.
A decade in the past, four-fifths of Greggs retailers had been on the Excessive Road.
At this time, the corporate says nearly half of its retailers are actually in various places comparable to petrol forecourts, roadsides, transport hubs, retail parks, supermarkets, universities and hospitals.
In the meantime, gross sales from supply web sites grew, and Greggs mentioned one in 5 prospects now makes use of its app.
Regardless of the difficulties for the yr forward, Mamta Valechha, analyst at Quilter Cheviot, mentioned the agency “stays in a powerful place, helped by its plans to open extra retailers, broaden its menu, improve night buying and selling hours, and develop its digital gross sales”.
“These initiatives ought to help additional progress, even because the retail sector faces ongoing challenges,” she mentioned.
