Greggs total sales rise 6%
The bakery food-on-the-go retailer released its financial results for the first half of the financial year.
According to the results, the company's total sales rose 6.0% to £422 million, while company-managed shop like-for-like sales grew 3.8%.
Operating profit excluding property gains and exceptional charge was reported to grow 6.7% to £27.2m (2015: £25.5m) while property disposal gains were recorded at £2.2m (2015: £0.1m).
Greggs recorded 86 shop refurbishments completed year-to-date, planning 200 for the year. There were 68 new shops, and 36 closures year to date; the company is eyeing 70 net new shops in the year. Currently, the brand has 1,730 shops operational.
Roger Whiteside, 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. We added to our "Balanced Choice" range with sales growing strongly as more and more of our customers recognise the quality, range and value we offer in these healthier food choices."
"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."
