Greggs sales are on the rise

These are the figures

Greggs has seen a rise in both its sales and profits, although the company warned of inflation.

Last year, its total sales rose by 7 per cent to £894.2m. Pre-tax profits managed to hit a total of £75.1m, this is up from £73m on 2015s figure.

Despite the good news, the company said consumer outlook was “more challenging” than it had been.

Greggs is also shifting from just being a bakery business, it’s looking at focusing on food-to-go.

Roger Whiteside, chief executive said: “The UK consumer outlook is more challenging than we have seen in recent years, with industry-wide pressures emerging in commodities as well as labour costs,”

“However, we are confident of making further progress as we implement our plan to grow Greggs as a contemporary food-on-the-go brand.”

The weaker pound that came after the EU referendum means imported foods are a lot more expensive.

Chairman Ian Durant said: “In the short term we face a period of greater economic uncertainty and increased pressure from cost inflation.”