Greggs staff are set to share profits of £20.5 million as the business revealed a spike in sales over the past year.

Eligible employees, including long-serving team members with six or more years of service who work 20-plus hours a week, will be awarded bonuses of £850 this month.

The payout comes as the bakery chain announced its pre-tax profits had increased by 8.3% since 2023, reaching £203.9 million in 2024.

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The North East-based business, which has more than 2,600 UK shops, reported sales exceeding £2bn, an 11.3% increase from 2023.

It attributed the jump in sales and earnings to extended opening hours, higher prices and the launch of new shops.

The group increased prices to offset the effects of wage hikes, as they simultaneously raised salaries for a significant portion of their staff.

In announcing the company’s record-breaking year, chief executive Roisin Currie explained it wanted to reward employees’ contributions.

She said: “Our people have worked tirelessly to deliver on our strategic ambition to further establish Greggs as a multi-channel food-to-go retailer and I want to acknowledge their efforts.

“It is thanks to their hard work, week after week, that we continue to grow, all the while maintaining the great prices, high quality products, and friendly service that keep our customers coming back, again and again.”

Despite Greggs’ successful year, its shares dropped by more than 10% this morning (4 March) due to slowing sales growth.

According to Currie, consumer confidence remains low in 2025, with a continuing trend of people prioritising saving over spending.

The company said customers remain concerned about living expenses, such as energy bills, mortgage payments, and rent prices.

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