Greggs will open 41 new branches by end of 2021 with 500 jobs - as it boasts £55m profits for first half of year after £65m loss at height of Covid in 2020 Greggs to open 41 new branches by the end of the year and create 500 jobs Newcastle-based bakery said the business had swung from a loss to a profit Figures for 26 weeks to July, compared with £65.2m loss for same period in 2020 By Jack Wright For Mailonline Published: 08:21 BST, 3 August 2021 | Updated: 08:29 BST, 3 August 2021 Viewcomments Sausage roll stalwart Greggs is to open another 41 new branches by the end of 2021 under plans that will create 500 new jobs after the bakery chain announced pre-tax profits of £55.5million for this year. The Newcastle-based high street bakery, which has 2,115 stores, said the business had swung from a loss to a profit after Covid restrictions were eased and they were given the green light to trade properly. In interim results published today, bosses announced that 48 new branches opened in the first half of this year, though 11 were shut down for good. Greggs said it anticipates 100 net new shop openings in 2021. The figures were for the 26 weeks to July 3, compared with a £65.2million loss for the same period last year at the height of the pandemic. Greggs executives now expect full-year profits to be 'slightly ahead' of previous predictions after making gains against pre-Covid levels. Sausage roll stalwart Greggs is to open another 41 new branches by the end of 2021 under plans that will create 500 new jobs after the bakery chain announced pre-tax profits of £55.5million for this year An employee wearing PPE including a mask and visor serves at the counter of a Greggs bakery in London on June 18, 2020 The group saw like-for-like sales drop 9.2 per cent against 2019 after the impact of the third national lockdown but it was lifted by the opening of 48 new sites. MailOnline has contacted Greggs for further information. CEO Roger Whiteside said: 'Greggs once again showed its resilience in a challenging first half, emerging from the lockdown months in a strong position and rebuilding sales as social restrictions were progressively relaxed. 'We continue to make good progress with our strategic priorities, growing the shop estate and investing in our digital capabilities to compete in all channels and dayparts of our market. 'Whilst there continue to be general uncertainties in the market, given our recent performance we now expect full year profit to be slightly ahead of our previous expectation.' Greggs said it has returned the money it received from the Government through the furlough scheme and has re-instated its dividend to shareholders. In March, Greggs bosses reported a pre-tax loss of £13.7million for 2020, compared with a £108.3 million profit a year earlier. Sales fell by £300million during the pandemic, from £1.17billion to £811.3million. The Newcastle-based high street bakery, which has 2,115 stores, said the business had swung from a loss to a profit after Covid restrictions were eased and they were given the green light to trade properly Greggs stores across England remained open for takeaways during lockdowns, as they are classed as essential retailers. But city centre locations and travel hub sites saw substantial falls due to the stay-at-home orders. Delivery services and a partnership with Just Eat helped offset some of the falls, the company said, with 9.6 per cent of total sales in the first ten weeks of 2021 now coming via deliveries. But the latest lockdowns and restrictions since the start of the year hit overall sales, the company said, with like-for-like sales down 28.8 per cent in the 10 weeks to March 13. The company said the results for 2020 were slightly better than expected, considering the lockdowns, adding that it benefited from the furlough scheme and business rates holiday. Bosses added they have access to a new £100million revolving credit facility to fund further expansion beyond the 2,078 stores in operation. Greggs listed on the London Stock Exchange in 1984 and had never previously reported a loss since becoming a public company. Share or comment on this article: All rights reserved for this news site (dailymail) and under his responsibility