Lower than expected profits for Greggs

Greggs the Baker has reported much lower profits than expected - as a result, the company's share-price took a nose-dive this morning.

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Greggs warns profits for whole year could be lower than first forecast

One of the North East's biggest businesses have announced a shock profits warning today, causing a marked drop in its share value - and raising more fears about the pace of the country's economic recovery.

Greggs the Bakers blames bad weather on a drop in like-for- like sales for the first four months of the year.

The company has warned it now expects profits for the whole year to be lower than first forecast.

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