Greggs has posted a rise in sales and profit for the first half of 2024 showing continued strategic progress at the bakery giant.
For the 26 weeks ended 29 June, total sales at the sausage roll maker hit £960m, up from £844m in the same period in 2023.
Underlying pre-tax profit excluding exceptional items rose to £74m, compared to £64m last year.
Company-managed shop like-for-like sales increased by 7.4%, while Greggs said menu innovations such as the over-ice drinks range and dedicated pizza deals have driven sales growth across all times of the days and channels.
“Over the long term we believe that the evolution of our menu and the extent of our suburban shop estate offers a significant opportunity to grow our share of both the walk-in and delivery evening markets,” it said.
The business added that its post-4pm sales grew “more strongly than the average like-for-like rate”.
Greggs’ app usage also surged, being scanned in 18.3% of transactions compared to 10.6% in the same period last year.
In the first half of 2024, Greggs opened 99 new shops, including 30 relocations, and closed 18, resulting in 51 net new shops, bringing the total to 2,524 shops.
The business said it remains on track to achieve 140 to 160 net new shop openings in 2024.
Chief executive Roisin Currie 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.”
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