Greggs Reports Strong Profits Despite Selective Price Increases
Bakery chain to open up to 160 new stores in 2024 as it navigates wage pressures and cost inflation.
Overview
- Greggs posted a 16% rise in underlying pre-tax profits to £74.1 million for the first half of 2024.
- Total sales increased by nearly 14% to £960.6 million during the same period.
- Prices for some items, including sausage rolls and sandwiches, were raised by 5p to 10p due to wage pressures.
- The company plans to open between 140 and 160 new stores this year, focusing on high-traffic locations.
- Greggs continues to expand its product range, contributing to its growth in sales and market presence.