Greggs’ income handed £2bn final yr due to greater gross sales of pizzas, rooster goujons and potato wedges, however the sausage roll stays its high vendor.
The agency historically recognized 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 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 tougher, and its shares slumped 12% on Tuesday morning.
“After years of economic anxiousness, [customers] are nonetheless going through issues about vitality costs and elevated mortgage and hire prices,” the corporate mentioned.
The agency additionally repeated its criticism of the federal government’s resolution to extend employer Nationwide Insurance coverage contributions and different employment prices, including it might go on these prices via greater 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 standard, with pizza offers driving sturdy progress,” mentioned chief government Roisin Currie.
Nonetheless, she informed the RAYNAE its menu growth 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, which is headquartered in Newcastle upon Tyne, opened a internet whole of 145 new outlets final yr, due to its continued progress away from the Excessive Avenue.
A decade in the past, four-fifths of Greggs outlets had been on the Excessive Avenue.
In the present day, the corporate says nearly half of its outlets are actually in various places akin to petrol forecourts, roadsides, transport hubs, retail parks, supermarkets, universities and hospitals.
The agency’s newest outcomes additionally confirmed greater gross sales from supply web sites, whereas Greggs mentioned one in 5 clients 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 outlets, develop its menu, improve night buying and selling hours, and develop its digital gross sales”.
“These initiatives ought to assist additional progress, even because the retail sector faces ongoing challenges,” she mentioned.
