British bakery chain Greggs has seen its profits rise 41 %, which has resulted in a record 80 million euro profit.
Change of course
The chain's total turnover grew 5.5 % to 804 million pounds (1.1 billion euro), while its like-for-like turnover grew 4.5 %. Profit grew considerably, from 41.3 million pounds (56.9 million euro) to 58.3 million pounds (80.3 million euro) in its past fiscal year.
A change of course, transforming its shopping experience and its product range, has helped Greggs to reach new heights. It has also lowered the price of plenty of base ingredients.
The board also feels the current fiscal year will prove to be a good year: the first few weeks of its fiscal year have already resulted in a 6.3 % like-for-like turnover increase.