Greggs has almost 1,500 stores across the UK and plans to open another 80 stores this year
Bakery chain Greggs has reported record profits of £52.5m for 2010, helped by the addition of extra stores and refurbishments.
Profits were up by 7.9% from a year ago, although same-store sales, which strip out the effects of new stores, were up by just 0.2%.
Greggs said it had carried out a record number of store openings and refits.
The chain is the UK's largest of its kind and has almost 1,500 outlets, 68 more than in 2009.
It plans to add another 80 this year, saying the current market conditions have increased the availability of more attractive sites and landlords are taking a more "realistic view" on rents.
However, the company's statement warned that 2011 would see "further pressure on consumer spending and rising global commodity prices".
The Newcastle-based firm began selling pains au chocolate and croissants last year, and says it has added porridge to its growing range of breakfast foods.
Its 16,800 staff will share a bonus of £5.8m through Greggs' profit-sharing scheme.
- Published12 January 2011
- Published10 August 2010
