Greggs PLC (LSE:GRG) has announced growing sales and pre-tax profit during the first half of the year as hopes rest on easing inflation.
Sales in the six months to July jumped 16% to £844mln on a like-for-like basis, “reflecting the exceptional value that Greggs offers to customers”, the company said in a statement.
Pre-tax profit rose 43% to £80mln, meanwhile, though this included £16.3mln of exceptional net income thanks to the settlement of a Covid business interruption case.
Having previously warned of sticky inflation, Greggs reassured costs were now easing and could be expected to do so throughout the rest of the year.
Reiterating guidance, the company also reported a 1p hike in its interim dividend to 16p, while earnings per share climbed 4% to 46.8p.
“With consumers remaining under pressure, we continue to offer exceptional value, which is reflected in our performance and growing market share,” chief executive Roisin Currie said.
"Our ambitious plans for growth are on track and our amazing teams are committed to realising the opportunity to become a significantly larger, multi-channel business."