High Street food chain Greggs has reported a rise in both sales and profit, as its shift to becoming more of a food-to-go-focused business continues to bear fruit.
Total sales rose by 7% to £894.2m in 2016, while the business posted a pre-tax profit of £75.1m, up from £73m in 2015.
However, the company warned that the consumer outlook was looking “more challenging”, due to increased inflationary pressures and greater economic uncertainty.
Greggs chief executive Roger Whiteside, 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.”
