"Many Photos" - Greggs profits rise 14% in the first seven months of 2019 thanks to new vegan sausage rolls

The launch of a controversial vegan sausage roll has helped bakery chain Greggs lift its full-year profit outlook after driving a surge in customers through its doors.

The group - which also recently increased profit expectations for 2018 - said trading had been boosted by 'extensive publicity' surrounding the launch of the new savoury product at the start of January.

It cheered an 'exceptionally strong' start to 2019 as the stir caused by the launch of the snack saw a jump in customer transactions.

Greggs said it experienced 'exceptionally strong' sales growth at the start of this year, which it linked to the extensive publicity surrounding the vegan sausage roll

The group posted a 9.6 per cent rise in like-for-like sales for the seven weeks to February 16, while total sales lifted 14.1 per cent.

This compares with a 2.9 per cent hike in like-for-like sales a year earlier, when trading was hit by extreme weather.

Greggs said: 'The rate of growth has eased slightly in February but the strength of trading is likely to have a material impact on the first-half result for 2019.

'Overall the board now anticipates that 2019 full-year underlying profit before tax (excluding exceptional charges) is likely to be ahead of its previous expectations.'

The company says it now expects to have higher full year profits before tax than previously predicted. They sell 1.5million sausage rolls a week but created the new option following a petition from Peta signed by more than 20,000 people

January's news that Greggs was to sell a vegan-friendly sausage roll drew a flurry of responses online, including comments from Good Morning Britain TV host Piers Morgan and comedian Ricky Gervais.

Greggs sells 1.5 million sausage rolls a week but created the new option due to public demand after an online petition by Peta, calling for a vegan version, was signed by more than 20,000 people last year.

 

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News Photo Greggs profits rise 14% in the first seven months of 2019 thanks to new vegan sausage rolls
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