Greggs profit warning to customers
Published Date:
10 October 2008
Bakery chain Greggs has issued a profits warning, blaming poor summer weather and rising costs – which it decided not to pass on to customers.
The Newcastle-based company said it now expects its 2008 profits will be £3m less than previous targets.
Greggs made the warning as it said like-for-like sales slowed 3.9 per cent in the 16 weeks to October 4.
Despite higher energy and ingredients costs, Greggs said it kept product price rises to a minimum.
Analysts had previously expected them to make pre-tax profits of about £48m for the year to the end of December.
The full article contains 107 words and appears in Shields Gazette newspaper.
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Last Updated:
10 October 2008 11:48 AM
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Source:
Shields Gazette
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Location:
South Shields
