One of the first big corporate statements of 2023 will come from Newcastle-based Greggs on Thursday, January 5, when the firm publishes a fourth quarter trading statement.

Analysts will be watching for the effect of higher costs on any revenue growth at the Newcastle firm.

Hargreaves Lansdown equity analyst Matt Britzman said: “Next week, Greggs will share details of its fourth quarter and full-year trading performance.

“The consensus amongst analysts is for revenue to come in around £1.45bn for the full year, an 18% increase.

“We’re unlikely to get any profit details, but we expect most of that revenue growth to be eaten up by higher costs.

“Costs have been under pressure all year by the impact of inflation, running at around 9% on a like-for-like basis.

“We’ll be watching for any commentary on how this dynamic is expected to play out in 2023.

“Greggs is pushing on with plans to bolster its estate, we’re expecting to hear news of more openings in the fourth quarter.

“For the full year, the group’s been targeting 150 net openings, of which around 40% are expected to be with franchise partners.

“That’s all part of Greggs’ plan to increase the number of franchise stores, something we’re supportive of as it means day to day running costs can be passed on to franchisees.”