Cake Box interim revenues almost double

(Sharecast News) - Fresh cakes retailer Cake Box said on Monday that trading during the first half had been strong across its store estate and online delivery channels.
Cake Box stated total interim revenues came to £16.4m, an increase of 91% year-on-year, with revenues for the four months ended 30 September hitting £11.1m, up 50% when compared to the same period in 2020, which excludes the impact of lockdowns and associated store closures in March 2020. Total franchisee sales increased 13.3% on a like-for-like* basis.

The AIM-listed company also said it had continued to see "strong growth" from its own online delivery channels via third-party platforms including Uber Eats, Just Eat and Deliveroo, with franchisee online sales increasing 68% to £6.7m during the period.

Chief executive Sukh Chamdal said: "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."

As of 1000 BST, Cake Box shares had shot up 8.18% to 363.50p.