Greggs staff on a £5.8m bonus roll

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The Independent Online

Nearly 17,000 staff at Greggs are to share a bonus pot of £5.8m after the bakery chain delivered record profits last year. The average pay-out will be £400 to each of its 16,800 employees, depending on their length of service.

Greggs, which has 1,487 shops, grew pre-tax profits to £52.5m, on sales up by 2.1 per cent to £662m for the year to 1 January. On a like-for-like basis, the baker's sales rose by 0.2 per cent over the year, but have improved to be up 0.4 per cent so far in 2011.

Ken McMeikan, the chief executive of Greggs, said the chain was performing better in the south currently. He said: "We have nearly 200 shops within the M25 and they are performing stronger overall." Greggs raised its dividend by 9.6 per cent to 18.2p – its 26th consecutive year of growth.