Greggs Profits Skyrocket: Vegan Products Credited For Boom

Greggs has announced a 27 percent rise in 2019 pre-tax profits – with major growth following the launch of its vegan sausage roll.

The high street bakery released its bestselling vegan sausage roll in January 2019. This year, it added a vegan steak bake and donut to its menu.

The brand’s like-for-like sales grew by 9.2 percent – a record – leading CEO Roger Whiteside to brand the performance as ‘exceptional’.

‘Some uncertainty’

Despite this growth, Whiteside has warned of impending uncertainty, due to the spread of the coronavirus. He said: “2019 was an exceptional year of progress for Greggs, during which we experienced a sustained increase in customer visits as increased awareness and appreciation of our brand gathered momentum.

“There is some uncertainty in the outlook, particularly given the potential impact of coronavirus.

“This aside we expect to make year-on-year progress and will do so from a strong financial position, supporting our investment for further growth whilst also delivering good returns for all stakeholders.”