Member Article

Revenue up 6% to £422m for UK bakery giant Greggs

Newcastle-headquartered bakery giant Greggs has recorded a strong first half performance, with the company attributing like-for-like growth to successful ‘strong sales initiatives’.

The food-on-the-go retailer, releasing its results for the 26 weeks ended 2 July 2016, reported a 6% rise in turnover, as sales increased from £398m for the period last year up to £422m. Moreover, the firm revealed a rise in pretax profit, with figures jumping to £29m up from £26m.

The company’s sales initiatives, which Greggs largely attributed the growth to, included the strengthening of ‘Balanced Choice’ range, further development of breakfast and hot drinks offers and the launch of its improved Greggs Rewards app.

Roger Whiteside, Chief Executive, commented: “In the first half of 2016 we delivered good like-for-like growth by reinforcing the freshness and value of our offer in line with changing trends in the food-on-the-go market.

“We added to our “Balanced Choice” range with sales growing strongly as more and more of our customers recognise the quality, range and value we offer in these healthier food choices.

“We have made an encouraging start to the second half of the year and are alert to any change in consumer demand that may result from the current economic uncertainty.

“Overall, we expect to deliver full-year growth in line with our previous expectations as well as further progress against our strategic plan.”

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