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Cake Box has reported that trading was in line with expectations in the first half of the year, with a 6.2% increase in LFL sales for the six months to 30 September, an improvement against the -1.6% reported for the same period the previous year.
The cake retailer said that it now expects revenues for the full year to increase by 6%, with adjusted profits ahead of H1 2023.
The business said to have benefitted from the cost of raw materials remaining stable since the second half of the prior financial year.
Demand for stores has remained strong, with a further nine stores opening during the period despite significant increase in interest rates. As of 30 September, Cake Box manages 214 stores.
Sukh Chamdal, chief executive officer, said: “We are pleased with our first half performance, delivering a recovery in sales and margins as raw material and input prices have stabilised. Our brand continues to grow and we have made further strides with our marketing initiatives, with the successful launch of our new website in June 2023 already boosting our online sales channel.
“We enter the second half of the year with good momentum and remain confident in our growth prospects following the investment in our operations and our enlarged and enhanced operational team. Together with the continued dedication and enthusiasm from our franchisees, we look forward to continuing to grow our customer base and brand.”
