The bread firm reported underlying pre-tax profits of £74.1 million for the first half of 2024, up 16% from the same period the previous year.
During that time, total sales also increased by about 14% to £960.6 million.
Nonetheless, Greggs claimed that “pressure” on its employee pay bill has forced them to raise the cost of a few menu items in recent weeks.
There have been 5p and 10p price increases in several bakes and sandwich varieties, but the cost of meal deals has not altered.
“No price increases on the cards currently” for the rest of the year, according to CEO Roisin Currie.
She said that the increase in profits was the result of the company paying its 32,000 employees more in salary before the new national living wage of £11.44 per hour was implemented in April. The company attributes its growth to better evening sales, a variety of iced drinks, and its growing network of branches nationwide. Between January and June, the company opened 99 new stores, including 25 franchised locations; however, it also closed 18 stores and moved 25.
