Greggs see profits washed out by bad weather

06/08/2012

By Daniel Hunter

Bad weather has been blamed for Greggs' drop in profits in the first half of the year.

The UK's biggest bakery chain have seen a fall in like-for-like sales, with pre-tax profit for the six months to the end of June being £16.5m.

This figure is down from the £17.3m posted a year earlier. Revenue was up almost 5% at £350m. The company went on to warn of "challenging" trading for the rest of the year.

"The market remained challenging and was particularly impacted by the record levels of rainfall in the second quarter," the company said.

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