Greggs reports rise in profits and sales following “strong trading momentum”

Greggs has reported pre-tax profit of £80m for the 26 weeks to 1 July, a rise from £55.8m over the same period in 2022.

The high street bakery firm also posted a 21.5% increase in sales to £844m, with like for like sales up 16%.

While Greggs said the increase in profit and sales came as a result of “strong trading momentum”, its expectations for the full year outcome are unchanged as “uncertainties in the economic outlook remain”.

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Despite this, the retailer is pushing ahead with expansion plans to open 150 new shops in 2023, having opened 94 in the first half of the year.

Greggs chief executive, Roisin Currie, said: With consumers remaining under pressure, we continue to offer exceptional value, which is reflected in our performance and growing market share.

“In the period we continued to open further new shops, extended trading hours into the evening and saw increased participation in the Greggs app. Our ambitious plans for growth are on track and our amazing teams are committed to realising the opportunity to become a significantly larger, multi-channel business.”

This comes as Greggs is set to launch up to “half a dozen” standalone cafés with Sainsbury’s across a combination of petrol station garages and in-store “coffee-style operations”.



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