Cake Box full year sales up 50%
The Cake Box specialist cream cake retailer has said it expects its full year revenues to be up around 50% year-on-year.
In a trading update, the company said trading in its second half was strong across both its store estate and online delivery channels, which means it now expects adjusted pre-tax profit for the year to 31 March to be in line with market expectations.
Cake Box opened 11 new franchise stores in the second half of the period, excluding kiosk openings, to bring the total number of new stores in the year to 31 compared to 24 in the prior 12-month period. At 31 March, Cake Box had a total of 185 stores after new openings in places like Tottenham, Plymouth and Sunderland.
The company said it is continuing to see a high level of interest in its franchise proposition and has expanded its successful trial of Cake Box kiosks in Asda stores with ten new kiosks launched.
Sukh Chamdal, co-founder and chief executive of Cake Box, said: “We have delivered another record performance for the year, demonstrating the continuing appeal of our customer and franchisee proposition. Our strategy to reach customers across the UK is starting to deliver.
“With a strengthened team and investment in our operations and processes, we have all the right ingredients to continue to sustainably grow the Cake Box customer base, brand and family.”
