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LONDON (Alliance News) - Egg-free cake producer Cake Box Holdings PLC reported "strong" annual sales growth, though the rate has eased considerably year-on-year.
For the 12 months to March, Cake Box's sales rose 6.5% on a like-for-like basis, after 15% growth in its previous financial year.
Average sales per store kept growing, the company continued, and as a result, it is guiding for revenue of GBP17.1 million, up around 30% year-on-year. Profit is set to be in line with market expectations, but no guidance figure was provided.
Results for the 12 months to March, in which Cake Box listed in London, will be released on June 24.
Chief Executive Sukh Chamdal commented: "Our first year as a public company has been an exciting one. We've achieved record revenue, opened a record number of stores and continue to see strong appetite for our unique customer offer."
"As we continue to grow our presence for customers across the UK, we have invested in new facilities to support expansion, including two new warehouse and distribution centres in Bradford and Coventry."
We believe the group ideally positioned to deliver profitable growth and enter our new financial year with confidence," he continued.
Shares were 0.6% higher on Tuesday afternoon at a price of 157.50 pence each.
