Shares of Newcastle-based Greggs rose as much as 8% after it published a trading update for the first 20 weeks of 2025 showing total sales up 7.4% to £784 million.

“Product innovation is playing its part,” said Greggs.

“Now available in 1,300 shops, our over-ice drinks range is performing well, including two new flavours: Peach Iced Tea and Mint Lemonade.

“Pizza boxes continue to see strong demand and hot food options, such as our Southern Fried Chicken Goujons and Southern Fried Potato Wedges, have been further complemented by our newly launched Mac and Cheese which went viral on TikTok.

“After an initial trial last year, our made-to-order range, including chicken burgers, wraps and fish finger sandwiches is now available in over 300 shops nationwide and is proving popular with customers looking for a more substantial and personalised meal.

“We also continue to delight customers with further innovation in our classic product ranges. We have made recipe enhancements to our sandwich range in recent weeks, as well as introducing a new Feta, Red Pepper and Spinach Bake to our iconic savoury range.

“We have also extended our range of healthier choices, introducing products such as a Fat-Free Greek Style Yoghurt with Strawberry Compote alongside established items such as our Pesto and Mozzarella Pasta Salad.”

Greggs shares rose as much as 8% to £21.50 to give the Newcastle firm a current stock market value of about £2.2 billion.

In its outlook, Greggs said: “The improved LFL sales performance has been delivered in what remains a challenging market context, and during a period that compares with our strongest performance in 2024.  

“Our investment programme is on track and there has been no change to the outlook for cost inflation, which we expect to be around 6% on a LFL basis. 

“Our plans for managing the inflationary headwinds are progressing well and, whilst early in the financial year, the Board’s expectations for the full year outcome remain unchanged.”