Cake Box hails strong full year results
Cake Box has posted strong uplifts in full year sales and profit despite a challenging economic and trading environment.
In the year to 31 March 2022, the specialist retailer of fresh cream cakes saw its revenue increase by 50.7% to £33 million and its pre-tax profit climb by 83.3% to £7.7 million.
The company’s online sales grew by 41% in the period while the number of franchise stores increased to 185 following 31 new openings.
Sukh Chamdal, chief executive of Cake Box Holdings, said: “I founded Cake Box at the height of the financial crisis in 2008. These are difficult times for everyone, but as we’ve seen before, the group’s unique customer and franchisee proposition remains both exciting and enticing.
“Our people have proven their resilience and commitment through tough times and now is the time for the Cake Box Family of extraordinary entrepreneurs to shine, with support from a bigger, better and more experienced group function.”
Cake Box opened a new warehouse in Enfield in the year to support its expansion plans. It also continued to expand its kiosk offering to take the total to 15 in supermarkets and 20 in shopping centres.
Giving an update on more current trading, the company said sales have have been robust following the year end, although it remains mindful of the increasingly challenging economic and trading environment.
Chamdal said: “The Cake Box Family is bigger and more geographically diverse than ever before, and we are serving more customers than ever, with a keen focus on value for money. As I said at the height of the Covid pandemic, there will still be birthdays, marriages and countless moments in our lives to celebrate with a slice of our delicious cake.”