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Shares of UK bakery chain Greg fell sharply on Wednesday as they warned that profits this year were lower than in 2024 and that demand for cold drinks increased but overall scaffolding declined.
The manufacturers of Pasties and Sausage Rolls reported a 2.6% increase in similar sales in the first half of the year, compared to a 2.9% increase in the first 20 weeks, saying they were affected by “very high temperatures.” The stock fell 14% on news.
The profit warning comes after Gregs CEO Roasin Curry said in May that he is confident that sales will continue from the warm spring weather.
However, the ongoing heatwave in most of Europe, where the UK and Europe are above 30C, means fewer outsiders and fewer customers.
This is a developing story
