Like-for-like sales in its company-managed shops were up 5.5% for the year, with total revenue reaching £2,014m for the 52 weeks ended 28 December 2024.
Total sales rose 7.7%. However, company-managed shop like-for-like sales increased only 2.5% in the fourth quarter - the 13 weeks to 28 December - down from 5% in the previous quarter, reflecting ‘more subdued’ high street footfall, according to the company.
Shares in Greggs fell more than 10% on the publication of its latest figures.
Greggs opened a record 226 new shops in the year, with 28 closures and 53 relocations resulting in 145 net new openings. It currently operates 2,618 stores and says it has a strong pipeline in place to continue opening momentum in 2025, with around 150 new openings planned for this year.
The bakery has also announced a 5p rise in the cost of its sausage rolls, as part of an average 4% price rise on key items including coffee and doughnuts, blaming the rises in wages, tax and food costs for the decision.
Its sausage roll is now priced at £1.30.