Greggs on a roll as sales rise 9.6%

SANDWICHES and sausage rolls maker Greggs has posted a sharp hike in sales, putting it on target despite an expected slowdown in growth. Like-for-like sales rose 9.6% in the first quarter, and 8.3% in the six weeks since then.

Chairman Ian Gregg said the performance was in line with its budget. 'This is despite the expected cost pressures in areas such as flour and insurance,' he added. 'I therefore continue to expect that the group will achieve satisfactory progress during the current year. Our budgeted growth rates moderate as the current year progresses, taking into account the particularly strong growth in the latter part of last year.'

The company''s expansion is on target, with 17 net openings in the current year giving a total of 1,161 shops across the UK.