Cake Box FY21 revenue climbs 16.9% to £21.9m
The group’s adjusted pre-tax profit also jumped in the period, up 24.8% from £3.8m in FY20 to £4.7m in FY21
Cream cake retailer Cake Box saw revenues spike 16.9% year-on-year to £21.9m for the full year ended 31 March 2021.
The group’s adjusted pre-tax profit also jumped in the period, up 24.8% from £3.8m in FY20 to £4.7m in FY21.
Cake Box’s strong performance was driven by an 84% growth in online sales for the comparable period.
Moreover, the egg-free cake retailer has emerged from the pandemic “a bigger, better business” following the opening of 24 new franchise stores in the financial year.
The group’s total franchise stores in operation now totals 157, with franchisee turnover increasing 17% year-on-year to £42.7m.
Sukh Chamdal, CEO at Cake Box, said: “We have achieved record results during a year which included a global pandemic and the temporary closure of our entire store estate.
“Despite continued uncertainty in the operating environment, our unique proposition for customers and new and existing franchisees remains highly attractive and we are confident of making continued progress in the years ahead.”
