07 March 2023 , 10:03
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Greggs is to trial a new 24-hour drive-thru service as part of huge expansion plans announced today.
The bakery chain has released its latest financial results, where it revealed sales jumped 23% to £1.5billion in 2022 - up from £1.2billion the previous year.
The group is expanding its opening hours and opening new stores as customers turn to its low-cost meal options amid the cost of living crisis.
Greggs plans on opening 150 new stores this year and said there is "clear opportunity" to have significantly more than 3,000 shops across the UK over time.
The chain already has nearly 2,330 shops and is famous for its sausage rolls and steak bakes.
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Greggs opened a record 186 new shops last year, and closed 39.
This year it is set to trial a drive-thru that will be open 24 hours, although the location has not yet been decided.
Greggs has been extending its opening hours in order to sell more hot evening meals, with around 500 of its stores now open to at least 8pm.
A further further 300 sites will be extended to stay open until 9pm this year.
However, pre-tax profit at Greggs was up by just 1.9% in 2022, coming in at £148.3million, after it was hit by inflation and higher energy and staff costs.
This is up from £145.6 million the previous year.
Roisin Currie, the chief executive of Greggs, told PA news agency there are no current plans to increase prices further, but stressed it will have to keep prices under review.
The price of a popular sausage roll at Greggs is now £1.20, having cost £1 at the start of 2022 and being subject to several price rises throughout the year.
Ms Currie said: "2022 has been a year of strong progress for Greggs, the result of committed efforts to deliver our strategic growth plan.
"The significant opportunities on which the plan is based will remain centre stage in the year ahead as we make Greggs more accessible to even more customers.
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"Although consumer incomes remain under pressure, Greggs continues to offer exceptional value to people looking for great tasting, high-quality food and drink on-the-go.
"We have an exciting, ambitious plan for the years ahead and, by continuing to nurture what makes Greggs special, I believe we are extremely well-placed to realise the opportunity to become a significantly larger, multi-channel business."