British bakery Greggs open to Irish expansion

BRITAIN’S biggest bakery chain, Greggs, said it is still looking for opportunities in Ireland.

However, it has not set a timescale on expansion here.

The company said that it sold more than 10 million breakfast rolls last year and as a result is expanding its breakfast range.

Yesterday, Greggs said full-year profit climbed 10% as more customers bought Fairtrade coffee and breakfast meal deals.

Net income for the 52 weeks ended January 1 rose to £37.9m (€43.7m) from 34.4m a year earlier. Sales grew to £662.3m and its performance year to date has met its forecasts.

The popular bakery chain has been planning to expand to Ireland for a while and this year it plans to open 80 shops in Britain, following the opening of 93 outlets last year.

Chief executive Ken McMeikan said rising global commodity prices, which have pushed up the cost of ingredients, and pressure on consumer spending will continue to make this year a challenge.

“Our strong value positioning, excellent products, outstanding staff and clear strategy for growth mean that we are well-positioned to deal with this challenging environment,” he said.

Mr McMeikan said Greggs had only raised its prices by “pennies here and there”.

The company also runs a profit-sharing scheme and around 16,800 members of staff will share in a record £5.8m pay-out from it — or about £345 a head.