UK bakery chain Greggs has reported a 10.6% increase in interim pre-tax profit to £13.6m (US$24.8m) and said sales had been strong in the first few weeks of the second half.
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The company, which sells sandwiches, savouries and other bakery products from its more than 1,200 outlets across the UK, said turnover increased to £216.2m for the 24 weeks to 12 June, compared to £201.1m a year earlier. Like-for-like sales rose 4.1%.
Greggs trades under both the Greggs and Bakers Oven brands. The company said that there had been a significant improvement in performance at Bakers Oven and a positive consumer response to the relaunch of the Greggs brand.
“Like-for-like sales in the first seven weeks (to 31 July) of the second half have increased by 7.4%,” said managing director Sir Michael Darrington.
“This excellent growth rate reflects comparison with the period affected by last year’s hot summer; we expect progress to moderate as the second half progresses. I believe that both our brands are well positioned to deliver further growth, and we therefore expect to report satisfactory progress over the year as a whole,” he added.
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