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Cake Box Holdings PLC - Wembley, London-based fresh cream and egg-free cake retailer - Reports first half revenue of GBP16.4 million, up 91% from GBP8.6 million a year earlier, on the back of online delivery channels and social media marketing.
Notes strong growth from online delivery via third party platforms, such as Deliveroo PLC and Just Eat Takeaway.com NV, with franchisee online sales up 68% to GBP6.7 million in six months to September 30 from GBP4.0 million a year earlier.
Opens 20 new franchise stores in six months, total stores 174 at period-end compared to 139 last year. Opens three new kiosks, total now 19.
"Our performance during the last six months demonstrates the ongoing appeal of our unique cake offering. With strong sales growth accompanied by record expansion of our store estate, the board is confident of making further progress in the second half and meeting full year expectations," says Chief Executive Sukh Chamdal.
Expects to report first half results mid-November.
Current stock price: 380.00 pence, up 13% on Monday
Year-to-date change: up 79%
By Josie O'Brien; josieobrien@alliancenews.com
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