Greggs, the baker that also has in-store cafes in some outlets, is forecast to produce pre-tax profits of £39.7m this year and £42.9m next.

Weekend share watch, in the Financial Times, says the stock should continue to fit the bill for investors seeking comfort rather than thrills.

The share price has lost about 17% over the pat year to stand at £29.37 but this compares favourably with the 30% drop in the FTSE All-Share index.

Financial Times 29/03/03 page 19 (Weekend share watch)