Greggs on a roll as profits rise

The firm said the stronger trading in October and November was 'particularly encouraging'. Picture: Greggs

Greggs, the bakery chain, has upped its full-year profit outlook thanks to a rise in sales following strong autumn trading.

The group, which has more than 1,900 shops across the UK, saw like-for-like sales growth strengthen to 4.5 per cent in the eight weeks to 24 November. It said it now expects full-year underlying pre-tax profits of at least £86 million. This compares with £81.8m in 2017.

Greggs said: “This stronger trading in October and November is particularly encouraging as it builds on good comparative sales in the same period last year.”

The recent better trading means year-to-date like-for-like sales are now 2.5 per cent higher and total sales are 6.6 per cent ahead. Recent autumn menu additions include a Pumpkin Spice Latte and Chilli Beef Bake.

In contrast to many of its high street rivals, Greggs has been opening shops over the past year, although it has trimmed its expansion plans.