Coronavirus rolls Greggs into loss

A few weeks before lockdown hit the UK high street, Greggs (GRG) shareholders were celebrating a 26 per cent dividend increase following a year of healthy profit growth. The final dividend was subsequently scrapped alongside a share purchase programme, and Greggs’ half-year results have brought more misery with a slide into loss that included a £9m write off for unused stock and a further £1.3m impairment on 14 stores that are unlikely to recover their full value.