Will appetite for bakery chain Greggs grow on Burnham backing?

When Andy Burnham revealed his favourite item on the Greggs menu was the ‘sausage, bean and cheese thing’, sales of the duly rebranded pastry doubled the next day near the PM’s No10 North HQ in Manchester. 

But has the hot summer dulled our appetite for such savoury snacks? Or will Gen Z additions to the menu, such as salads and iced blueberry matcha lattes, fill the gap?

That’s what investors are asking ahead of the FTSE 250 firm’s third-quarter results on Wednesday. 

First half-profits beat analysts’ expectations, frustrating short-sellers who were betting on the share price falling. Instead, Greggs shares have risen by a fifth in the past six months to £18.61.

On a roll: Greggs boss Roisin Currie at No10 this year

Full-year sales are now projected to grow to £2.3billion with profits of £193million, against £167 million last year.

But investors will be looking for evidence that chief executive Roisin Currie and her team will achieve or even surpass these estimates with new initiatives.

Smaller ‘Greggs Express’ units are being trialled at petrol forecourts and other travel hubs focusing on greater convenience and speed.

There’s even a branch at Tenerife airport selling the classics, plus a Spanish omelette roll.

Something for the PM to sample on holiday, perhaps.

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