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.
ADVERTISEMENT
“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.
ADVERTISEMENT
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.
Half of Mancs don’t know how to cook Christmas dinner, new survey reveals
Emily Sergeant
Christmas dinner is one of the key parts of any festive celebration.
No matter whether you choose to tuck into a traditional roast with all the trimmings and lashings of gravy, or you prefer to go for something a little different like a curry or a Chinese instead, your Christmas dinner is a chance to gather round with your loved ones and enjoy one of the heartiest meals you’ll likely have all year.
However, some shocking new figures have revealed that half of Manchester residents have no clue how to even cook a Christmas dinner.
Through a major study by the UK’s leading electrical retailer, AO.com, it was revealed that the majority of our city’s residents are “losing confidence” in preparing even the simplest of British dishes – with a traditional roast or Christmas dinner being one of them.
A new survey has revealed that half of Mancs don’t know how to cook Christmas dinner / Credit: Freepik | GoodFon
As part of its new campaign to get Brits back into the kitchen, AO found that just 57% of respondents reckon they would be able to make a roast dinner, 52% could whip up a classic shepherd’s pie, 58% could cook bangers and mash, merely 61% could prepare a full English breakfast, and again, only 57% could tackle fish and chips.
Classic desserts are clearly a struggle for us Mancs too, according to the survey, as only 19% of respondents said they’d feel confident cooking a Christmas pudding.
The survey also found that nationwide, it was Gen Z – those between the age of 16 and 27 – that are the least confident in their ability to cook great British classics, while on the other end of the spectrum, Baby Boomers are the most capable, proving that culinary confidence increases with age.
Our region’s residents are apparently ‘losing confidence’ at cooking simple British classics / Credit: Freepik
Commenting on the results, Jay Lockton, oven expert at AO.com, said: “Kitchens should be a place of creativity and joy, but our data shows that a lot of people in Manchester are losing confidence in preparing even the simplest of British dishes.
“Based on our findings, many younger people may be opting for convenience foods or takeaways due to their busy schedules and the perception that cooking from scratch is time-consuming or difficult.
“But with simple guidance and the right tools, we believe everyone can rediscover the joy and simplicity of homemade meals.”
Featured Image – gpointstudio (via Freepik)
Trending
New Hairy Bikers documentary to take viewers on ’emotional journey’ in tribute to Dave Myers
Emily Sergeant
A new documentary paying an emotional tribute to late Hairy Biker Dave Myers is set to air on the BBC in the run up to Christmas.
Dave Myers – who was most well-known for being one half of the famous Hairy Bikers duo that starred in the BBC cookery and travel show of the same name, alongside Si King – died earlier this year (28 February 2024) after revealing back in May 2022 that he had been diagnosed with cancer, and was undergoing chemotherapy treatment.
The final Hairy Bikers episode aired on 19 March following Dave’s passing, and viewers tuned in in their tens of thousands to watch the beloved show that had been entertaining the masses for close to two decades.
🏍️ Si King celebrates the life of fellow Hairy Biker and best friend Dave Myers in a special one-off BBC documentary
Si picks out key moments from the past 25 years of the pair's TV careers in The Hairy Bikers: You’ll Never Ride Alone
But despite that being the final episode with Dave involved, there’s still one last chapter left to tell.
Set to air on BBC Two on Monday 23 December, viewers will be invited on an “emotional journey” through the Hairy Bikers story with Si King, as he celebrates the life of his best mate and former TV partner.
The documentary follows Si as he leads a motorcycle convoy to Dave’s hometown of Barrow-in-Furness, while archive material, new interviews, and previously-unseen footage is shown to help celebrate Dave’s life.
A new Hairy Bikers documentary will take viewers on an ’emotional journey’ in tribute to Dave Myers / Credit: BBC / South Shore Productions
You can relive the journey that took Dave around the world while cooking up a storm as one of television’s greatest-ever double acts.
“I’m incredibly proud of the programme because it’s a tribute to my best mate,” Si King said.
“It was an amazing experience, I didn’t quite know what to expect. That was the whole thing, none of us did. We thought at the most we’d get 10,000 bikes, we didn’t dream it would be 46,000 motorcycles and a 30-mile tail, it was just insane. I just felt enormously privileged.”
Emily Sergeant -
8th March 2022 
