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Cake Box reported a rise in first-half revenues on Monday amid new store openings, as it backed its expectations for the year.
In an update for the six months to the end of September, the company - which makes egg-free fresh cream cakes - said revenues for the period are expected to be up around 6% to £8.8m compared to the first half of last year. Like-for-like sales in existing franchise stores were up 6.9% and Cake Box said it was confident about meeting current full-year market expectations.
I'm struggling to understand why there isn't more interest in this. The way I see it there are three strong growth drivers - new store openings (2 a month forecast - roughly 20% a year growth), growing like for like sales and growing online sales (both up last year). Last years profit grew despite being held down artificially by the one off listing costs so given this dropping out of this year's results and the three drivers above I'd expect some significant growth this year. The franchise model means very low funding costs (franchisees are paying for the store openings not the company) and they are paying a dividend.
Despite all this the share price is pretty static and there's next to no discussion on this board or ADVFN. Just wondered why we don't have more people paying attention.
How's everyone feeling about Cakebox, going into 2019? I'm super bullish if we open 2 new stores every month.
“Sick” as in good or “sick” as in bad ? I’m not down with the lingo
looks rather sick when comparing with previous 6 months. In fact everything looks like an over indulgence of sticky sugary toppings.
I assume that's as far as the group's concerned, not the franchisee. Given the high upfront costs payable by the franchisee, it would be rather remarkable if the contribution to the group WASN'T profitable (for the group) from day 1. Sustainable and growing profitability may be more of an issue.
"This performance further demonstrates our successful business model through which new stores typically reach a break-even or profitable contribution to the Group within the first day of trade." (H1 Results -Results Overview)
Can anyone explain this please? As I read it on day one a franchisee either breaks even which cannot be true as the franchise fee is 125k + vat or on day one sells a cake which is entirely likely!
will be on sky news ian king live today,should be up tomorrow.
I was watching this company since day one and regret I didn’t buy at 130p. Any way long term here now to £10
I brought some shares here as I could see the slant on the egg free doing well. I did only after try the product. Its not bad but I cant eat a whole slice in one go, I myself would never buy the big cakes, and its offering at present is rather limiting and could get a bit boring to be honest.
It is getting hard to believe any word from listed companies now.......CAKE has just shown us how dodgy listed companies are! The auditors must be appointed by the independent shareholders that have no connection with the board. Listed companies should be audited every 3 months.............they should act like financial police instead of cosying with the dodgy execs.
I won't predict timespan because we all know how silly that is but I really rate this as I can see with my own eyes how successful it is . From my immediate family I am aware of a spend of £500 on celebration cakes at cakebox (birthdays, driving tests ect ) and I am not factoring in Friday cakes or just grabbing a £2.50 slice. My local branch is booming and forget the egg free slant , there is a huge gap for accessible reasonably priced 'cake' and go' shops across Airports and train stations . Cbox could fill this perfectly. I expect here we could see a Lloyds/ Fevertree type arrangement here at sometime and then boom ..worldwide. But even now I feel the Mcap to Store ratio is way low because I feel my local branch is turning over way north of 500k per annum. This is a future £BN Company.
Looking promising
Half Year Trading Update
Cake Box Holdings plc, the specialist retailer of fresh cream cakes, today announces a trading update for the six months ended 30 September 2018.
The Group traded strongly during the period with average sales per store continuing to grow and a record number of new store openings. The Group expects to report revenue for the period up c.40% to c.£8.3m compared to the same period last year. Following the strong first half of the year, the Board now expects profits for the full year to be ahead of current market expectations.
15 new franchise stores were added during the period, bringing the total number of stores to 102. Recent store openings included Bletchley, Northampton and Derby.
The Group will report its Half-Year results for the six months ended 30 September 2018 on 26 November 2018.
Sukh Chamdal, Chief Executive Officer, commented:
"We have delivered a strong trading performance for the period, during which we successfully completed our IPO in June. We continue to build momentum with a record number of new franchise store openings, and an increase in the average sales per store.
"We look forward to the second half of the financial year with confidence, with a strong pipeline of new franchise stores putting us on track to match the number of stores opened during the first half."
At least we know Patisserie Val won't be buying us out. What a disaster story that is.
CAKE contagion perhaps?
Store opening in Milton Keynes tomorrow. This should be a gem of a location. Keep them coming!
The SP has been a bit all over the place recently hopefully we are making progress.
Yes their website is really not shareholder friendly ! No information whatsoever for investors! With regards to the results, They have an aggressive franchising strategy and I would hope for 20-25% uplift in revenues and profits ... can’t be long! must be in September
I was thinking the same. The company needs to update their website to include a investor section. I'd take a 10-15% uplift vs prior period. Excellent long term hold. I hope pardip takes this to US. Huge market there.
Anyone know when the results are due ?
Solid base for growth. Thinking medium term this has a way to go so topped up
Me too ! Not my usual type of investment but was sitting on surplus cash on the account so decided to put some on CBOX
Bought in here yesterday,
looking forward to results could be quite interesting
I've invested in Cbox and really think this is going places. Great products and fantastic growth prospects. Does anyone know when there will be a trading update. I'm tracking new store opening through their Facebook page and there is good progress being made.
Spend sometime researching this one and now happy with what I see. Nice to see the Naked Trader in here too.