Greggs has announced a “robust performance” for the first half of the year, with pre-tax profit up 7.3% to £16.5m.
The bakery retail chain saw sales increase by 4.4% to £312m, with like-for-like growth up 1.5%. Operating profit stood at £16.3m – an increase of 8.9%, for the 26 weeks to 27 June, 2009.
The firm said the high street trading environment remained difficult and had not been helped by the recent wet weather.
Chairman Derek Netherton commented: “The business has also begun to benefit from the initiatives we are taking to simplify and centralise our operations, in preparation for accelerated expansion.”
Greggs also noted the continued harmonisation of its ranges and new product launches as successes in the year to date, and is currently experimenting with a new ‘concept’ store in the south east.
For the full story, see the next issue of British Baker – out 14 August.