Greggs shares slump on hot weather profit warning

In its outlook statement Greggs, which reports its interim results on 29 July said it expects first half operating profit to be lower than last year, “reflecting the stronger comparative trading performance in H1 2024 and the phasing of refurbishments and cost recovery initiatives across the current year. For the full year, our cost inflation outlook remains unchanged and planned cost mitigation measures are expected to enhance second half performance.”