Greggs has beaten McDonald's in the UK's go-to place for breakfasts after a better-than-expected 2023.
The country's favourite bakery remains on course to achieve its five-year plan of doubling sales after reporting an increase in pre-tax profits of 27% to £188.3m, up £40m from the previous year, while revenue rose 19% to £1.8b.
By the end of December, the company has opened a record 220 new shops, closing 75, taking the total to 2,473.
And it became number one for breakfasts in the UK, as food-to-go breakfasts jumped by almost a fifth.
Roisin Currie, Chief Executive commented: "Reflecting on another year of rapid growth, I am so proud of how our teams have risen to the challenge of serving more customers through more channels. Whether in our shops, our manufacturing sites, our distribution network, or in Greggs House, our teams stepped up to make sure that we kept pace with the increased customer demand as we delivered on our strategic growth plan.
"We are very much on track to deliver our bold five-year growth plan to double sales by 2026 and to have significantly more than 3,000 shops in the UK over the longer term."
FTSE 100
The UK's flagship share index, the FTSE 100, was up 16-points, at 7,662 shortly after opening this morning.
Brent crude oil futures was up 0.29% today, trading at $82.28 a barrel.
Companies reporting today
- Breedon - Full Year Results
- ConvaTec - Full Year Results
- DS Smith - Q3 Results
- Ibstock - Full Year Results
- Lancashire Holdings - Full Year Results
- Legal & General - Full Year Results
- Quilter - Full Year Results
- Rathbones - Full Year Results
- Spirent Communications - Full Year Results
- Tullow Oil - Full Year Results