Many of us love a Greggs - and it seems that's even more true as we watch the pennies. The bakery chain said its sales jumped during the first half of this year as customers turned to value meals amid the cost-of-living squeeze.
It said sales leapt by 27.1% in the 26 weeks to July 2 to a total of £694.5 million, compared with £546.2 million a year earlier. But profits remained largely flat year-on-year at £55.8 million compared with £55.5 million last year, due to the reintroduction of business rates, an increase in VAT and higher levels of cost inflation.
With soaring inflation putting a strain on people's incomes, consumers are more likely to turn to lower-cost food and drink while on the go, Greggs said. But the chain warned that cost inflation could reach around 9% this year as it is hit with higher prices of food, packing and energy.
