20th May 2025 10:15
(Alliance News) - Greggs PLC on Tuesday reported an increase in sales for the first 20 weeks of 2025 and it kept its full-year forecast unchanged.
In the first 20 weeks of the year the Newcastle upon Tyne, England-based baked goods provider's total sales were up by 7.4% to GBP784 million, from GBP730 million the previous year.
Greggs shares rose 6.2% to 2,122.00 pence in London on Tuesday morning.
Greggs said like-for-like sales also grew by 2.9% with stronger performance in the most recent 11 weeks thanks to "better trading conditions".
It said "product innovation" has played a part in its sales rise. The firm hailed its over-ice drinks range, which includes iced tea and lemonade. It also said "pizza boxes continue to see strong demand".
Among some of its "classic product ranges", there have also been some more "innovation".
"We have made recipe enhancements to our sandwich range in recent weeks, as well as introducing a new feta, red pepper and spinach bake to our iconic savoury range," Greggs added.
"The improved LFL sales performance has been delivered in what remains a challenging market context, and during a period that compares with our strongest performance in 2024."
Looking ahead, Greggs confirmed that its investment plans are progressing as expected, and it anticipates cost inflation to be around 6% on a like-for-like basis.
Greggs said it's managing inflationary pressures effectively and, although it's still early in the year, it continues to expect a solid outcome for 2025.
By Olivia Mason-Myhill, Alliance News reporter
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