StockMarketWire.com - Bakery chain Greggs said it expected profit to be 'slightly higher' guidance thanks to 'strong' performance in the latter part of last year.

For the 52 weeks ended 28 December, total sales rose 13.5% on-year and company-managed shop like-for-like sales were up 9.2%.

Growth continued to be driven by additional customer visits with 'strong' demand across its traditional ranges and the demand for its vegan-friendly sausage roll, the bakery chain said.

The company said it had added to its vegan-friendly menu with the launch of its 'Vegan Steak Bake' and its first vegan doughnut, it added.

The bakery chain opened 138 new shops in the year, with 41 closures.

Looking to the coming year, Greggs anticipated a number of cost headwinds, with the National Living Wage costs expected to increase faster than general inflation and a significant rise in the cost of pork.

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