Greggs has refused to rule out that its prices will rise in the wake of inflation and due to rising cost pressures.
The cost of sausage rolls, steak bakes, and Yum Yums could soon be hiked after the much-loved bakery chain – which has hundreds of branches across the city centre, and throughout the Greater Manchester region – explained that its profit growth will be squeezed this year and used the publication of its annual results for 2021 to limit the expectations of both customers and investors.
2021 was a record profit year for Greggs after the previous year was greatly impacted by the COVID-19 pandemic.
But CEO Roger Whiteside has now said that while like-for-like sales growth during the first nine weeks of 2022 were 3.7% ahead of 2020 levels, he warned that the outlook for many commodity costs still “remains uncertain”.
“We have started 2022 well, helped by the easing of restrictions,” Mr Whiteside said.
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“But cost pressures are currently more significant than our initial expectations and, as ever, we will work to mitigate the impact of this on customers, however given this dynamic, we do not currently expect material profit progression in the year ahead.”
Greggs has refused to rule out that its prices will rise further in 2022 / Credit: Greggs
Greggs says it’s expecting an overall cost inflation of 6% to 7% this year, which is mainly from raw materials, energy, and staff wages.
Because of this expectation, this has prompted the company to put up some prices at the start of this year – with a spokesperson confirming Greggs had raised its prices by a “few pennies”, adding 5p to the price of some products – and further changes are “expected to be necessary”.
Mr Whitehouse not only pointed to the fact that commodity pricing was already rising at the back end of 2021 as the world started to move out of pandemic, but now, Russia’s invasion of Ukraine has exacerbated the situation even further, as both countries are huge producers of commodities such as wheat, corn, and sunflower oil.
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The nationwide bakery chain says it’s expecting an overall cost inflation of 6% to 7% this year / Credit: Greggs
It’s understood, however, that if Greggs does raises prices further this year, the company would still be looking to remain competitive.
Although Greggs is at this moment unable to confirm if prices will rise further in the future, and whether customers will have to fork out more for their bacon butty in the morning, Mr Whiteside has said there were no current plans for fresh increases, adding: “We’re going to have to keep it under review in the balance of the year.”
“[We’ll] see how the market develops,” he concluded.
Salford City FC have been bought out by a new consortium
Danny Jones
Another era beckons for Salford City as a buyout of the Greater Manchester football club by a new consortiumhas been announced.
Well, sort of.
Salford City FC were famously the subject of a joint takeover by Singaporean businessman Peter Lim and members of Manchester United’s Class of ’92 over a decade ago, and now 11 years on from that last milestone moment in their history, the local side has a new administration once again.
It is a fresh chapter for the club, but supporters will be glad to hear that there will also be some continuity and key throughline of consistency among some of those at the top.
Salford City announces that the Club has been acquired by a new ownership group led by David Beckham and Gary Neville, and includes US-based businessman Declan Kelly and Lord Mervyn Davies who will both serve as new Co-Chairs of the Club’s board.
Led by Man United legends Gary Neville and David Beckham, who have been involved with Salford since 2014, the new nine-member consortium consists of the Dream Sports Group – a leading sports technology company based in India – along with a number of other key figures.
One of those is Lord Mervyn Davies, a former Labour MP and Minister of State for Trade, Investment and Small Business, who still serves as a trade envoy between the UK and Sri Lanka.
Another is Irish-American entrepreneur Declan Kelly, who is Chairman and CEO of The Consello Group, a global advisory and investing firm.
While the previous co-owners and fellow Class of ’92 United graduates are no longer shareholders at Moor Lane, it is said they will still play important roles at the club.
As the official statement reads, “The acquisition includes a commitment by the new shareholders to invest significantly in the Club, the team and its facilities”, meaning there will funds will likely be sweet aside not only for some healthy transfer business but more updates to the Peninsula Stadium.
Commenting on the announcement, Neville said: “I’m passionate about Salford City. This is a unique partnership with a diverse range of minds and expertise, held together by a love of football.
“Football will come first, however, it’s critical that we drive the Club towards sustainability in the next 4-5 years. I can’t wait for the next part of this journey.”
Meanwhile, Beckham went on to add in the excitable Instagram post seen above: “Salford played such an important role in my life growing up… It’s where I trained with United alongside my best mates every day, it’s where I bought my first house and where me and Victoria lived.
“I’m so proud to be part of a new ownership group alongside my mate [Neville] as we begin the next chapter of Salford’s journey. Football is at the heart of this community and I can’t wait to see what the future holds for the Ammies.
Ole Gunnar Solskjær says just three players have spoken to him since leaving Manchester United
Danny Jones
Club legend and ex-Manchester United player turned manager, Ole Gunnar Solskjær, has revealed that just three of his former players have been in touch since leaving Old Trafford.
Solskjær was sacked from the role as Man United head coach back in November 2021 after having been given the job permanently following an impressive winning run as interim manager.
The practically perfect start back at the helm of the club – where he starred as the ‘super sub’ during his playing days – was followed by a big slump, and the final decision was ultimately made in the wake of a 4-1 loss to Watford.
However, the ‘Baby-Faced Assassin’s’ popularity among the players and the fans alike was never in question, so it’s come as somewhat of a surprise to many fans that Solskjær has said only a specific trio of United players have got in touch with him since his dream job came to an end.
At least two of the names read out might not surprise fans, as not only was then-club captain Harry Maguire one of his first statement signings, but so was Bruno Fernandes, who now has the armband, and both have remained key players and leadership figures pretty much ever since.
Speaking to BBC Sport on the senior duo, Ole said, “For me, Harry has always been a leader and a fighter”, and never had any doubts about him deputising for him on the pitch, before going on to label both the centre-back and Bruno as “top human beings.”
As for the third, although Victor Lindelöf looks set to leave the club this summer, he’s actually been a long-serving squad member, having joined back in 2017 and been a seemingly popular figure around the dressing room, even if injury problems have sometimes hampered his minutes.
He also went on to discuss other matters regarding the club, including confessing that it’s “hard to watch” United amidst their present struggles, both under previous manager Erik ten Hag and now Ruben Amorim – even with a potential Europa League trophy consolation on the cards.
The retired striker also stated that he found the decision to let midfielder Scott McTominay go more than surprising, especially given the incredible performances he’s put on display since moving to Serie A.
Emily Sergeant -
8th March 2022 
