Higher sales and “strong cost control” have helped Greggs boost its profits in the first half of the year.
Sales grew 7.2% to £1.1bn in the 26 weeks to 27 June 2026 as the high street baker ramped up its bricks & mortar expansion campaign with 34 net openings.
Like-for-like sales at shops owned by Greggs were up 2.1%, though slightly lower at franchised shops at 1.3%. But the company said it had continued to grow volumes of sales, and cited Circana data to show Greggs’ market share was up 0.3 percentage points to 8.7% in the 12 months to June 2026.
The boost to sales came alongside cost-cutting measures including a planned £20m reduction in capital expenditure for the year, and Greggs’ profits have grown accordingly.
Operating profit jumped 22.9% to £86.5m, and profit before tax was up 19.7% to £76m, representing a return to form when compared to the “soft” first half of 2025. Greggs’ guidance for the full year was unchanged.
Greggs CEO Roisin Currie said the business “remained focused” on its campaign to open more shops and on introducing more convenient ways for customers to buy food.
The company’s estate now includes 2,773 shops, and Greggs has set a goal of opening 100 stores a year to reach its target estate of 3,500.
The company’s new national distribution centres in Derby and Kettering have made it possible for the company to chase the “clear opportunity” to hit that target, it said.
Currie added: “We are making great progress in building the supply chain infrastructure that will support the significant growth opportunities that lie ahead.”
No comments yet