Greggs forecasts first annual loss since 1984 after sales slump

Profits not expected to return to pre-Covid levels until 2022 at the earliest

The bakery chain Greggs is forecasting that the coronavirus pandemic will result in the company posting its first annual loss since the mid-1980s, while it does not expect pre-Covid profit levels to return until 2022 at the earliest.

Greggs annual sales slumped by more than £300m year on year in 2020, pushing it to forecast a £15m full-year loss, as coronavirus restrictions closed its shops and hit revenues.

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