Profits not expected to return to pre-Covid levels until 2022 at the earliest

The bakery chain Greggs has predicted the coronavirus pandemic will result in the company’s first ever annual loss, while it does not expect profits to recover until 2022.

Greggs’ annual sales slumped by more than £300m year on year in 2020, pushing it to forecast a £15m full-year loss, as coronavirus restrictions closed its shops and hit revenues. The company said it did not expect to return to pre-Covid levels of profit until 2022 at the earliest.

Continue reading…

Leave a Reply

Your email address will not be published. Required fields are marked *