Greggs rolls out £17m employees bonus after raking in bumper income

A typical Greggs employee might be handed a £700 bonus after it raked in bumper income and mentioned gross sales would double by 2026.

Chief government Roisin Currie mentioned round 25,000 of its 32,000 employees might be rewarded of their March pay packets after ‘another year of rapid growth’.

The High Street baker normally dishes out 10 per cent of its annual income to workers who’ve labored there for not less than six months. 

This yr’s £17.6million bonus pot represents barely extra – handing these eligible a mean of £704 every.

A employee who does 22 hours every week and has been there for six years will obtain £765.

Bumper gross sales: Greggs chief exe Roisin Currie (pictured) mentioned round 25,000 of its 32,000 employees might be rewarded of their March pay packets after ‘another year of rapid growth’

And traders got a particular dividend of 40p a share, plus a 62p annual payout.

The handouts got here after income soared 13.1 per cent to £167.7million final yr.

Hot hen goujons, potato wedges and pizzas flew off the cabinets together with its sausage rolls and steak bakes because it expanded its night hours.

This helped store gross sales soar 13.7 per cent to £1.8billionn. Greggs bought round 250m sausage rolls final yr. 

Currie, who has run the agency since May 2022, mentioned affordability was ‘at the heart of Greggs’ and he or she doesn’t plan to carry costs this yr.

She mentioned the group was ‘not complacent’ about difficulties dealing with the High Street, regardless of inflationary pressures easing.

‘The consumer is still under pressure in terms of their disposable income,’ she mentioned.

In a last-ditch plea, she mentioned she hoped the Chancellor Jeremy Hunt would ‘put money in consumer pockets’ at at present’s Budget. 

Currie mentioned she is assured Greggs will double revenues by 2026 with gross sales up 8.2 per cent within the first 9 weeks of 2024.

Matt Britzman, fairness analyst at funding platform Hargreaves Lansdown, mentioned: ‘Greggs is far more than just a treat, and its value offering puts it in a sweet spot with consumers still battling higher living costs.’

Currie mentioned Greggs will maintain extra outlets open for longer to entice clients who ‘stop by our shops on their way home from work, looking for quick and easy evening meals and snacks’. 

Shares rose 2.1 per cent, or 58p, to 2774p yesterday.