Greggs Bakes in Strong Results
The bakery food-on-the-go retailer’s CEO called 2014 ‘a year of exceptional progress’.
Greggs, the leading bakery food-on-the-go retailer in the UK, announced a 5.5% rise in total sales to GBP 804.0 million, 4.5% increase in own shop like-for-like sales, and 41.1% surge in pre-tax profit to GBP 58.5 million.
The company also revealed that its food-on-the-go focus is delivering growth; its upgraded coffee sales is now around GBP 1 million per week; it posted strong growth from 'Balanced Choice' range. Its customers’ participation in value deals is growing and its market conditions have much improved, according to its report.
Roger Whiteside, Chief Executive, said: "2014 was a year of significant change and an exceptional step up in performance for Greggs as we began to implement our new strategic plan centred on the growing food-on-the-go market. We have improved both our food offer and the shop experience for customers. Market conditions have been more favourable and like-for-like sales have grown throughout the year. This has resulted in record underlying profits for the financial year. Overall we are confident of delivering a further year of good growth and progress against our strategic plan in 2015".
