Greggs a high (vegan) roller
Meat-free pastry drives record share price
THE storming success of Greggs’ vegan sausage roll helped its shares hit a record high yesterday.
The firm had to ramp up production after the meat-free treat sold out following last week’s launch.
Stunned boss Roger Whiteside admitted: “We didn’t know if it would sell or not.”
The gamble paid off, with the roll becoming the biggest launch of Whiteside’s six years in charge, selling “hundreds of thousands”.
Mirror writer Laura Connor (pictured) gave the snack the thumbs up in a taste test.
Newcastle-based Greggs also announced a 5.2% rise in sales for the final three months of 2018.
A third of Greggs’ sales are still pastry products, including 1.5 million meat sausage rolls a week. But healthier products, soups and sandwiches have also proved a hit. Greggs’
share price soared nearly 7% to an all-time high of £14.59 yesterday, after upping its full-year profit guidance for the second time in two months to at least £88million.
Jordan Hiscott, chief trader at Ayondo markets, said: “Looking at the trajectory of the shares since inception in 1991, its trend is more akin to a start-up tech company, up an astounding 3,187% over the period.”
Greggs opened 149 shops last year – in railway stations, industrial parks and the like – and closed 50 high street branches.
It has similar plans this year as it opens its 2,000th store and works towards a long-term target of 2,500 outlets nationwide.
Whiteside still backs the high street, saying: “Breakfasts are massive in these shops.
“Workers are coming in before other shops nearby have opened.”
Greggs is also set to trial new technology to minimise the time customers stand queueing. Ideas include staff with hand-held iPads to take orders, and touch screen tills, like those used in McDonald’s.