Greggs reports total sales up 5.2% for 2015
The bakery chain released its preliminary financial results for the 52 weeks ended 2 January, 2016.
According to the report, the brand’s total sales rose 5.2% to £835.7 million, while company-managed shop like-for-like sales increased 4.7%. Pre-tax profit was up 25.4% to £73.0 million.
The company attributed its growth to its strategy of focusing on the growing food on the go market.
"In 2015 we delivered another excellent performance in the second year of our strategy to transform Greggs from a traditional bakery business into a modern, attractive food-on-the-go retailer,” Roger Whiteside, Chief Executive at Greggs, said.
“We have made significant progress across the business change programme, consequently our estate is stronger and our products, value and service are all improving the experience for customers.”
Whiteside said that 2016 has started well and the consumer outlook remains positive with disposable incomes expected to grow further in the year.
“Overall 2016 will be another year of significant change as we advance with our strategic plan and propose major investment in our supply chain. Alongside this we are confident of delivering a further year of underlying growth," he said.
In 2015, Greggs opened 122 new shops, with a total of 1,698 shops trading at 2 January 2016.
The company said that it plans to make investments in its systems to simplify processes and improve efficiency on track, along with a planned £100m investment in manufacturing and distribution operations over the next five years.
