Greggs stock trades near its 52-week high as revenue and profit grow

Greggs plc (ISIN GB00B0H2K534) stock is supported by solid financial momentum, with shares trading close to a recent 52-week high as the UK bakery chain continues to grow revenue and profit from its expanding food-on-the-go network.

Revenue up double digits

Greggs plc reported strong top-line growth in its latest full-year results, with revenue rising by double digits compared with the prior year as the company expanded its store estate and extended trading hours across much of its network.

According to the company’s most recent annual report, revenue for fiscal 2024 increased compared with fiscal 2023 as Greggs continued to invest in new shop openings and menu development, helping to drive higher customer visits and average transaction values.

Operating profit increases year on year

The same full-year figures show that operating profit for fiscal 2024 improved versus fiscal 2023, reflecting both the higher revenue base and Greggs’ focus on efficiency and cost control across its supply chain and retail operations.

The company highlighted in its latest report that operating margin also moved higher year on year, supported by better sales volumes and ongoing work to manage input costs and labor expenses despite a challenging inflation backdrop.

Sausage rolls anchor Greggs offer

Greggs generates a significant portion of its sales from its well-known sausage rolls and other savory bakery lines, which remain a core part of its food-on-the-go offer alongside sandwiches, drinks, and sweet bakery items.

Shares near recent high

Greggs stock trades on the London Stock Exchange and, based on recent market data, has been moving close to its 52-week high over the latest trading sessions, reflecting investor confidence in its growth strategy.