Home Business News Cake Box posts sweet sales boost

Cake Box posts sweet sales boost

by LLB Reporter
25th Nov 19 2:13 pm

Cake Box the cream maker has posted pre-tax profits of £1.7m in the first six months to the financial year, a 27% increase compared to 2018.

Revenue grew by 5.8% to £8.8m in line with expectations and shares soared by 6.5% to 148p on Monday morning over the news. The company said they will increase their dividends by 33% to 1.6p per share.

chief executive Sukh Chamdal said, “We have added nine stores to our portfolio during the half year, have a good pipeline for the remainder of the second half and are on track to achieve our store openings target for the year.

“Trading during the first eight weeks of the second half has been encouraging and we have already opened five new stores, including our first in Wales.”

Cake Box now has 122 franchises across the UK and has opened five new franchises including a new store in Cardiff.

Chamdal added, “During the period our focus has been on the consolidation of our strategy as we continue to grow the business through rolling out new stores, improving our customer offer and expanding our customer base, which is attracted to our unique, egg-free proposition.

“Our continued momentum has again led to a good financial performance during the half.”

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