Sandwich and bakery chain Greggs announced that record profits of £52.2million from 2010 would lead to a good bonus for their staff.
The 16,800 staff in the chain will share over £5million between them as part of the company’s profit sharing bonus scheme.
Profits for the chain were up 7.9% from a year ago, mainly due to an increase in the number of stores opened. Like for like growth was just 0.2% without them.
The chain now has nearly 1,500 shops, and has opened 68 in the last year. It is the largest chain of its size in the UK, and the company announced they plan to open another 80 shops this year because landlords are charging more realistic rents, and more attractive sites have come available.
The Newcastle based firm did warn that 2011 would be tough, adding that, “further pressure on consumer spending and rising global commodity prices”.