UK retail bakery chain Greggs revealed today (12 March) that annual pre-tax profits slumped almost 20%.

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The company saw profits for the year to 30 December plunge 19.8% to GBP40.2m (US$77.65m).


Greggs said sales were held back by unseasonably warm weather, while costs rose and it registered the one-off expense associated with restructuring its Bakers Oven division.


Like-for-like sales rose 3.9%, totalling GBP551m.

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