Profits soar for baker Greggs

High Street bakery chain Greggs enjoyed a 5.2 per cent growth in sales last year to £835.7 million.

Greggs, which has 1,700 shops including many in the Black Country, Staffordshire and Worcestershire, also saw pre-tax soar by 25.4 per cent to £73m.

It said its growth was being driven by its strategy to focus on the growing food-on-the-go market.

During the year further improvements to its product range were launched, including the 'heat-to-eat' sandwich range and extended breakfast menu.

Its Balanced Choice range of healthier options now accounts for 10 per cent of total sales for Greggs which carried out 202 shop refurbishments and 20 cafe conversions in 2015, when 122 new shops opened.

Greggs plans a £100m investment in manufacturing and distribution operations over the next five years

It said 2016 had started well and the consumer outlook remained positive with disposable incomes expected to grow further.

"Overall 2016 will be another year of significant change as we advance with our strategic plan and propose major investment in our supply chain. Alongside this we are confident of delivering a further year of underlying growth," the company said in a statement.