British baker Greggs recorded an increase of 8% in its annual profit in FY 2009 on the increased sales in the year. The company is now targeting the breakfast market as it received good response by the consumers for its recently launched freshly baked breakfast rolls. Greggs also raised annual dividend by around 11%.

For the fiscal of 2009 ended January 2 2010, Greggs reported the pretax profit of £48.8 million, increasing y 8% while in the previous corresponding year the company posted pretax profit of £45.2 million. The profit in FY 2009 beat the expectations of market analysts as they estimated pretax profit of £46.7 million for the period. Total sales in the year were reported £658 million, increasing by 8% comparing to the sales in FY 2008.

Greggs said that the company plans to focus on the breakfast market now to increase its sales. Around one month ago, Greggs launched freshly baked breakfast rolls with bacon or sausage for 1.29 pounds and combined breakfast roll/tea or coffee meal deals for 1.99 pounds. The company is very encouraged by the results as it had sold around half million rolls in one month. These rolls increased the sales in the breakfast period by 15-20% in a month.