Greggs’ gross sales prime £2bn after pizza, wedges and rooster goujons push

Greggs’ income handed £2bn final 12 months because of greater gross sales of pizzas, rooster goujons and potato wedges, the bakery chain has stated.

The agency historically recognized for its sausage rolls and steak bakes stated including extra gadgets to its menu was an indication of its “additional development ambition”.

Greggs additionally revealed night gross sales had been up because it moved away from Excessive Streets and in direction of prepare and bus stations.

Nonetheless, the agency’s gross sales had been lower than it had beforehand forecast because it stated price of dwelling worries would make buying and selling within the 12 months forward tougher, 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 hire prices,” the corporate stated.

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 might cross on these prices by way of greater costs.

Pre-tax revenue hit £204m in 2024, up 8.3% on the 12 months earlier than.

“Our sizzling meals menu is proving more and more widespread, with pizza offers driving robust development,” stated chief government Roisin Currie.

In the meantime, the corporate opened 145 new outlets final 12 months, because of its continued development away from the Excessive Avenue.

A decade in the past, four-fifths of Greggs outlets had been on the Excessive Avenue.

Right now, the corporate says virtually half of its outlets are actually in different areas equivalent to petrol forecourts, roadsides, transport hubs, retail parks, supermarkets, universities and hospitals.

In the meantime, gross sales from supply web sites grew, and Greggs stated one in 5 prospects now makes use of its app.

Regardless of the difficulties for the 12 months forward, Mamta Valechha, analyst at Quilter Cheviot, stated the agency “stays in a powerful place, helped by its plans to open extra outlets, increase its menu, enhance night buying and selling hours, and develop its digital gross sales”.

“These initiatives ought to help additional development, even because the retail sector faces ongoing challenges,” she stated.