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Cake Box expects to report around 30% year-on-year jump in full-year revenue, with profits to be in line

The company – which floated on AIM in June last year – said average sales per store continued to grow and it saw a record number of new store openings - 28 in the year

Cake shop
Cake Box expects to report revenue for the period of about £17.1m, up around 30% compared to the same period last year

Cake Box Holdings PLC (LON:CBOX) expects to report around a 30% year-on-year jump in full-year revenue, with profits to be in line with current market expectations.

In a trading update for the full year ended 31 March 2019, the specialist retailer of egg-free, fresh cream cakes said it traded strongly during the period, with like-for-like sales growth of 6.5% in franchise stores, albeit down from 15% in the previous year.

READ: Cake Box shares gain as it dishes up strong earnings in first results since IPO

The company – which floated on AIM in June last year – said average sales per store continued to grow and it saw a record number of new store openings - 28 in the year - including Harlow, Bury and Croydon, ending the period with 114 franchise stores.

As a result, the group added, it expects to report revenue for the period of about £17.1m, up around 30% compared to the same period last year.

Sukh Chamdal, Cake Box’s chief executive officer, commented: "Our first year as a public company has been an exciting one. We've achieved record revenues, opened a record number of stores and continue to see strong appetite for our unique customer offer.

"As we continue to grow our presence for customers across the UK, we have invested in new facilities to support expansion, including two new warehouse and distribution centres in Bradford and Coventry.

"We believe the Group ideally positioned to deliver profitable growth and enter our new financial year with confidence."

The group said it will report year results for the twelve months ended 31 March 2019 on 24 June.

In early trading, Cake Box shares were 0.6% higher at 157.50p.

Quick facts: Cake Box Holdings PLC

Price: 162 GBX

LSE:CBOX
Market: LSE
Market Cap: £64.8 m
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