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Greggs hails 'good' first half performance

Greggs has said it achieved a “good” first half performance with like-for-like sales at company managed shops rising by 3.8%.

GENERAL MERCHANDISE

Greggs hails 'good' first half performance

Total sales increased by 6% to £422 million in the six months to 2 July. Operating profit excluding property gains and exceptional charges climbed by 6.7% to £27.2 mllion.

Roger Whiteside, Greggs chief executive, said: "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.”

During the period, the company strengthened its 'Balanced Choice' range, further developed its breakfast and hot drinks offer, and launched an improved Greggs Rewards app. It also opened 68 new shops and closed 36 to leave 1,730 shops trading at the end of the six month period.

Looking ahead, Whiteside added: "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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