Greggs sees profits jump but reveals slowing sales growth
High street bakery chain Greggs has cheered a record annual performance as it notched a 27 per cent increase in full-year profits, but revealed slowing sales growth.
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00:00 Hello, my name is Greg Wright, I'm the Deputy Business Editor of the Yorkshire Post.
00:05 Here are your business headlines for this morning. The high street bakery chain Gregg's has delivered
00:10 a record annual performance as it notched up a 27% increase in full year profits but revealed
00:17 slowing sales growth. The group reported pre-tax profits of £188.3 million in 2023,
00:24 up from £148.3 million the previous year after lifelike sales and company managed shops rose by
00:32 13.7%. On an underlying basis, pre-tax profits lifted by 13.1% to £167.7 million. The firm said
00:44 it was confident that Gregg's can deliver another year of good progress and remains on track to open
00:50 between 140 to 160 shops this year after opening a record 220 shops in 2023. It's an update there
01:00 from the high street chain Gregg's delivering a record annual performance. My name is Greg
01:05 Wright and I'm the Deputy Business Editor of the Yorkshire Post.