Even Greggs sales are hit by the Beast

SHARES in Greggs plunged 15pc yesterday after the bakery chain warned the ‘Beast from the East’ had knocked profits flat.

Roger Whiteside, chief executive, said the cold snap that swept across the UK in February caused a double-digit decline in sales as stores were shut or deliveries failed to make it through.

The 59-year-old said: ‘The Beast from the East was the most severe conditions we have seen for some while. During that particular week and the aftermath – a period of about ten days – we were very severely disrupted.’

The firm is now forecasting flat profits for the year.

Whiteside added that Greggs is now expanding its breakfast and lunch meal deal options to better compete with rivals.

He said: ‘We think we are well set up to compete for sales in the months ahead.

‘The summer menu is out, and we will be sharpening our range of value meal deals to compete more strongly in the marketplace in anticipation of conditions remaining tougher than we would all like.’

Greggs shares yesterday fell 15.2pc, or 192p, to 1075p.