Greggs’ revenues spent 2 billion pounds sterling last year thanks to higher sales of pizzas, chicken studs and potato corners, the bakery chain said.
The company traditionally known for its sausage rolls and steak loops said that adding more items to its menu was a sign of its “new ambition of growth”.
Gregg also revealed that evening sales have passed when it was moving from the streets high and towards train and bus stations.
However, sales of the company were lower than what it had previously planned, as it said that concerns about the cost of living would make exchanges in the coming year more difficult, and its actions fell 12% on Tuesday morning.
“After years of financial anxiety, (customers) are still faced with concerns about energy prices and the increase in mortgage and rent fees,” said the company.
The company has also repeated its criticism of the government’s decision to increase national contributions from employers’ insurance and other employment costs, adding that it could pass these costs through higher prices.
The before tax profit reached 204 million pounds sterling in 2024, up 8.3% in the previous year.
“Our Hot Food menu is increasingly popular, pizza offers stimulating strong growth,” said Managing Director Roisin Currie.
Meanwhile, the company opened 145 new stores last year, thanks to its growth continues far from the main street.
Ten years ago, four -fifths of Greggs stores were on the main street.
Today, the company claims that almost half of its stores are now in other places such as petroleum forecourts, roadside, transportation centers, detail, supermarkets, universities and hospitals.
Meanwhile, sales of delivery websites have increased, and Greggs said that one in five customers are now using their application.
Despite the difficulties of the coming year, Mamta Valechha, analyst at Quilter Cheviot, said that the company “remained in a strong position, helped by its plans to open more stores, extend its menu, increase evening negotiation hours and increase its digital sales”.
“These initiatives should support additional growth, even if the retail sector is faced with continuous challenges,” she said.
