Shares of Newcastle-based Greggs soared as much as 18% on Wednesday after it published first-half results for the 26 weeks to June 27, 2026, showing first-half sales up 7.2% to £1.101 billion and pre-tax profit up 20% to £76 million.

Interim dividend per share was maintained at 19p.

Greggs reported: “Ongoing menu innovation following consumer food trends. New products include Iced Matcha Lattes, an enhanced salad range, and the new Chicken Roll …

“… clear opportunity for at least 3,500 UK shops over the longer term, growing market share further and making Greggs more accessible …

” … 34 net openings in the first half of 2026, growing the estate to 2,773 shops as at 27 June 2026 …

“New ‘bitesize Greggs’ smaller shop format creating additional opportunities, with four shops opened so far …

“Currently trialling ‘Greggs Express’, a self-service coffee and food offer, with a franchise partner in convenience retailing sites… 

“First international travel hub shop opened in Tenerife South Airport, with new franchise partner Lagardère Travel Retail …

“Expect around 100-110 net new shop openings in 2026, with an additional ten ‘Greggs Express’ convenience retailing trials …

“Medium-term shop opening rate expected to be at least 100 net shop openings per annum, with ‘Greggs Express’ trials potentially providing further opportunities …”

Greggs shares rose 18% to around £20 to give the Newcastle firm a stock market value of roughly £2 billion.

Greggs CEO Roisin Currie said: “Greggs continued to outperform the market and has delivered an improved sales performance and strong cost control through the first half of 2026, resulting in profitable growth.

“We remain focused on opening shops in more catchments and introducing convenient ways for customers to pick up Greggs favourites, while broadening and innovating our menu in line with changing tastes and trends.

“We are making great progress in building the supply chain infrastructure that will support the significant growth opportunities that lie ahead. The board’s expectations for the full-year outcome are unchanged.”