Greggs posts strong 2014 performance

04 March, 2015

Greggs posts strong 2014 trading performance

The chief executive of high street bakery giant Greggs has praised “an exceptional step-up in performance” for the brand in 2014 as it revealed total sales were up 5.5% to £804m and own-shop like-for-like sales had risen 4.5%. 

The chain, which operates 1,650 retail outlets throughout the country, reported that pre-tax profit increased by a huge 41.1% to £58.3m, having had a worth of £41.3m last year. Meanwhile, dividend per share was up 12.8% to 22p.

The preliminary 2014 results are in stark contrast to 2013, when like-for-like sales showed a 0.8% decline and dividend share was 19.5p.

Last year saw 50 new shops opened and 71 closed, with 213 refitted. Successes for the brand include coffee sales, which reached £1m per week and “strong growth” from its Balanced Choice range.

"Exceptional step-up"

Roger Whiteside, chief executive, said: “2014 was a year of significant change and an exceptional step-up in performance for Greggs as we began to implement our new strategic plan centred on the growing food-on-the-go market.

“We have improved both our food offer and the shop experience for customers. Market conditions have been more favourable and like-for-like sales have grown throughout the year. This has resulted in record underlying profits for the financial year.

"Overall we are confident of delivering a further year of good growth and progress against our strategic plan in 2015.”

Site Search


    Insights from the Bakery Market Report 2016

    You can now purchase the Bakery Market Report 2016, which offers insight into the retail bakery trade in the UK.

Events Calendar