January 8, 2020 / 7:15 AM / 12 days ago

UK baker Greggs upgrades profit forecast, to reward staff

LONDON, Jan 8 (Reuters) - British baker and takeaway food group Greggs, home of the vegan-friendly sausage roll, said its annual profit would be higher than expected and it would make a special bonus payment to staff to reflect an “exceptional year”.

Greggs said pretax profit for the year ended 28 December would be “slightly higher” than previous expectations. It had already upgraded its profit outlook in November.

The company said it would spend 7 million pounds ($9.20 million) on a one-off payment to all its more than 20,000 employees across its 2,000 store business.

The market currently expects Greggs to report pretax profit of 111.6 million pounds, up from 89.8 million pounds in 2018, according to Refinitiv data. ($1 = 0.7610 pounds) (Reporting by Sarah Young, Editing by Paul Sandle)

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