British bakery and fast-food chain; FTSE 250 member
Greggs has reported a 7.2% rise in half-year sales to £1.1bn, driven by 34 net new stores and a shifted focus to higher-protein salads and iced beverages. Pre-tax profit has jumped about 20% to £76m as it expands formats and maintains price stability amid inflation; the chain is also trialling Greggs Express in petrol forecourts.
The Middle East conflict has pushed up fuel, fertiliser and packaging costs, feeding higher food prices globally. Retailers warn inflation is likely to continue if the war persists, while farmers face rising input costs and potential production cuts.
Major UK retailers have written to the prime minister, coordinated by the British Retail Consortium, urging a review of policies on national insurance, the national living wage, and employment rights to boost youth employment. The move follows Neets data showing over one million 16-24-year-olds not in work or education. Government is rolling out a youth employment package and new payments to support entry-level hiring.
A group of UK-based millionaires have signed an open letter urging Prime Minister Burnham to tax the very wealthy. The letter argues wealth tax could fund public services and reduce inequality. Signatories include Gary Lineker, Val McDermid, Richard Curtis and Brian Eno. The government says any changes will be announced in due course at the budget.