Greggs set to post huge profits amid soaring sales as vegan sausage rolls help it thrive
Greggs is set to announce huge profits after in-store sales rocketed to help the baker rise above the high street slump thanks in part to its vegan range.
Greggs shares were almost an all-time high last week, only for them to drop slightly as market fears and the coronavirus impacted on share prices during one of the London Stock Exchange’s worst weeks since the 2007/08 financial crash.
But while many high street businesses struggle amid dropping sales and high business rates, Greggs has enjoyed a huge year-and-half, which has seen share prices double.
In the past 18 months, Greggs has won new customers thanks to its vegan sausage roll, released in January 2019, which was followed by the vegan steak bake and vegan doughnut added in January 2020.
Greggs now has more than 2,000 shops around the country, having opened 90 in 2019.
Greggs is set to announce its financial results on Tuesday. Last month, it said it expected to post 13.5% sales growth for the year to December 2019, almost doubling the 7.2% growth from the previous year, Press Association reports.
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