Greggs, the UK bakery food retailer reports total sales up 7.4% for the fourth quarter.
The group said like-for-like sales rose 3.7% last year, but growth slowed in the final three months as it competed against a strong performance the previous Christmas.
The company continues to grow with 131 new shops opened in the year, (41 closures) with 1,854 shops trading at the end of December 2017. The company also said it planned to ramp up shop openings in 2018.
Looking forward, the company expects industry-wide cost pressures to continue in the year ahead, albeit at a lower level than experienced in 2017.