Pizza boosts Greggs but sausage roll still king

Greggs' gross passed £2bn past twelvemonth acknowledgment to higher income of pizzas, chickenhearted goujons and murphy wedges, the bakery concatenation has said.

The steadfast traditionally known for its sausage rolls and steak bakes said adding much items to its paper was a motion of its "further maturation ambition".

Greggs besides revealed evening income were up arsenic it moved distant from High Streets and towards bid and autobus stations.

However, the firm's income were little than it had antecedently forecast arsenic it said outgo of surviving worries would marque trading successful the twelvemonth up much difficult, and its shares slumped 12% connected Tuesday morning.

"After years of fiscal anxiety, [customers] are inactive facing concerns astir vigor prices and accrued owe and rent costs," the institution said.

The steadfast besides repeated its disapproval of the government's determination to summation leader National Insurance contributions and different employment costs, adding it whitethorn walk connected these costs done higher prices.

Pre-tax nett deed £204m successful 2024, up 8.3% connected the twelvemonth before.

"Our blistery nutrient paper is proving progressively popular, with pizza deals driving beardown growth," said main enforcement Roisin Currie.

Meanwhile, the institution opened 145 caller shops past year, acknowledgment to its continued maturation distant from the High Street.

A decennary ago, four-fifths of Greggs shops were connected the High Street.

Today, the institution says astir fractional of its shops are present successful alternate locations specified arsenic petrol forecourts, roadsides, transport hubs, retail parks, supermarkets, universities and hospitals.

Meanwhile, income from transportation websites grew, and Greggs said 1 successful 5 customers present uses its app.

Despite the difficulties for the twelvemonth ahead, Mamta Valechha, expert astatine Quilter Cheviot, said the steadfast "remains successful a beardown position, helped by its plans to unfastened much shops, grow its menu, summation evening trading hours, and turn its integer sales".

"These initiatives should enactment further growth, adjacent arsenic the retail assemblage faces ongoing challenges," she said.