The bakery chain, which has scores of branches across the West Midlands, said its sales jumped in the first half of the year as customers turned to value meals amid the cost-of-living squeeze.
Its sales leapt by 27.1 per cent in the 26 weeks to July 2 to total £694.5 million, compared with £546.2 million a year earlier.
But half-year profits remained largely flat year-on-year at £55.8 million compared with £55.5 million last year, due to the re-introduction 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 rather than sit in for lunch, Greggs said.
The chain, which has more than 2,200 shops in the UK, said it plans to extend its opening hours, shake up its menu options and offer more delivery services in order to gain more evening sales.
Greggs chief executive Roisin Currie said: “In a market where consumer incomes are under pressure, Greggs offers exceptional value for customers looking for food and drink on the go. We are well-positioned to navigate the widely publicized challenges affecting the economy and continue to have a number of exciting growth opportunities ahead, with a clear strategy for expansion.”
Fans recently queued for hours in the heatwave as Greggs opened its first megastore in London’s Leicester Square. The store rolled out a blue carpet for the opening, which could lead to further larger stores as it competes with the likes of McDonald’s with its offering of breakfast bacon rolls, sausage rolls and pizza slices.