Greggs bakers have said that it is expecting its profits to remain stable during the coming two years as the baker plans to revamp its stores.

Greggs said that its like-for-like sales fell 0.5 per cent in the 13 weeks till 28 September. The fall is smaller than 2.1 per cent decline in sales on a year to date basis. Investors have also expressed optimism over the rise in sales in the previous seven weeks.

Chief executive Roger Whiteside said that the heat-wave during summer months had affected demand. He said that the changing season has boosted demand and the company has extended opening times by about one hour to
6.30pm. The company indicated that take-out products like pizzas and Viennese finger cakes are doing well as the stores remained open on Sunday.

"We were closing too early and missing out on busy commuters going home and wanting something to eat. Having more sandwiches available earlier in the day and £2 breakfast deals have also done well. Customers are still on tight budgets and we are fighting for every penny," he said.

Greggs expects £100million investment plan would mean profits would remain flat until 2015.