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Greggs, a UK bakery, reports a 14.3% drop in profits but a 7% rise in sales amid economic pressures.
Greggs, a UK bakery chain, saw its pre-tax profits fall by 14.3% to £63.5 million in the half-year to June 28, due to hot weather and cautious consumer spending.
Despite the profit drop, sales rose by 7% to £1.03 billion, spurred by new store openings.
CEO Roisin Currie noted that customers are saving rather than spending due to financial pressures.
Greggs plans to expand to over 3,000 sites in the UK.
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Greggs, una panadería del Reino Unido, informa una caída del 14,3% en las ganancias pero un aumento del 7% en las ventas en medio de presiones económicas.