Cake Box reports sustained recovery in H1
Cake Box said it has made “sustained recovery” since the peak of the Covid-19 pandemic when its stores were closed for six weeks.
During the six months to 30 September, EBITDA slightly edged up 0.5% to £1.98m, although pre-tax profit fell by 4% to £1.66m.
The specialist cake retailer’s online sales increased by 51%, however, as trade was boosted by the launch of new home delivery services with Uber Eats, Just Eat and Deliveroo.
The company also said that trading during the first six weeks of its second half has been “encouraging”, and that like-for-like sales across its 139 franchise stores in October rose by 12.7%.
Sukh Chamdal, Cake Box’s chief executive, said: “We have shown considerable resilience during an unprecedented half year period and have emerged a stronger business for it.
“This is demonstrated by the strength of our trading momentum since reopening the business, with our franchisee like-for-like sales up by 12.1%, including a 51% increase in online franchisee sales, six new franchise stores opened and a record number of new store applications.”
He added: “This gives us confidence that the momentum in our national rollout will return to pre-Covid levels.
“This has all been the result of a monumental effort from our franchisees, who have continued to focus on giving customers the very best service, and a delicious product, in difficult times.”
