Greggs H1 sales rise to £960.6m
The food-on-the-go retailer has announced its underlying profit before tax was also up 16.3% to £74.1m
Greggs’ sales rose 13.8% to £960.6m during the 26 weeks ended 29 June 2024.
The food-on-the-go retailer has announced its underlying profit before tax was also up 16.3% to £74.1m.
During the first half of the year Greggs opened 99 new shops, including 30 relocations and 18 closures, resulting in 2,524 shops trading. The company remains on track to achieve 140 to 160 net new shop openings in 2024.
Greggas has said that evening daypart sales are growing ahead of the average LFL rate, albeit from a low base, increasing share of sales mix by daypart. Meanwhile sales through the delivery channel represented 6.7% of company-managed shop sales in the first half of 2024.
The food operator is on track to complete the redevelopment of Birmingham and extension of Amesbury distribution centres in the second half of the year, creating logistics capacity for an additional 300 shops. The initial build phase of the new frozen manufacturing and logistics site in Derby is also “progressing well”.
In addition, Greggs has exchanged contracts for the purchase of a 25-acre plot of land at Symmetry Park in Kettering, on which its will construct its new national distribution centre, which is expected to be operational in the first half of 2027.
Roisin Currie, chief executive, said: “Greggs has made good progress in the first half of the year, further broadening our range of on-the-go food and drink whilst making it more accessible to more customers. Our success is founded on the exceptional value that Greggs offers to customers looking for food and drink on-the-go and the fast and friendly service delivered by our colleagues.
“Our cost outlook for 2024 remains unchanged and we continue to trade in line with our plan. The Board remains confident in the long-term growth strategy, and we are investing to support that growth.”
