High Street

Cake Box sees H1 profits rise to £3.7m

Revenue grew to £16.47m from £8.59m and was boosted by the opening of 20 new franchise stores during the period

Dessert specialist Cake Box has revealed that pre-tax profits rose to £3.7m from £1.66m for the six month period ending 30 September 2021.

Revenue grew to £16.47m from £8.59m and was boosted by the opening of 20 new franchise stores during the period.

The franchise store estate traded “well” in October, with like-for-like sales increasing by 14.4% and online sales continuing to “grow strongly”, up 46.6% in the five weeks since the end of September.

The group also partnered with Asda and following the successful trial of seven kiosks it added a further four kiosks with the intention to roll out more kiosks in Asda during the remainder of FY22.

Sukh Chamdal, CEO, Cake Box, said: “Our proven franchisee model continues to deliver and we now plan to open up to 32 new franchise stores this year, helping more entrepreneurs than ever build their own businesses and serve their local communities.

“Despite continued uncertainty in the wider environment, it’s clear that our unique customer proposition remains highly attractive as more customers choose our delicious, egg-free cakes to celebrate important occasions or simply satisfy their appetites for a tasty treat.

He added: “We look ahead with confidence in meeting full year expectations and making further progress in the years ahead.”

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