Greggs reports 7.2% sales growth for FY18
The bakery chain eyes 90 to 100 new store openings in 2019.
Greggs has announced their financial results for the financial year ending December 29, 2018 with total sales up by 7.2%.
Like-for-like sales also rose by 2.9%. The bakery chain ended the financial year launching 149 stores and closing 50, they now have more than 1,950 sites across the UK.
"We delivered a very strong finish to 2018 despite the well-publicised challenges in the consumer sector. This performance was broad-based, reflecting the strength of our range of freshly-prepared food and drinks, and the strategic changes that we have made in recent years to focus more effectively on the food-on-the-go market,” Greggs’ CEO Roger Whiteside said.
In 2019, they are eyeing 90 to 100 new locations. They also mentioned that they will execute their the supply chain change programme as part of their growth plans. Greggs is now expecting to reach an underlying profit before tax of at least £88 million on the first quarter of FY19.
