Cake Box Holdings PLC - eggless cake retailer - Revenue for half-year to September 30 falls 2% to GBP8.6 million and profit profit nudges down 4% to GBP1.7 million. Declares interim dividend of 1.85p, up 15% on 1.60p a year earlier. The half-year period includes six weeks during which all stores were closed, firm notes.
As at November 20, all franchise stores remain open, with the exception of the majority of shopping centre kiosks. Positive sales growth maintained in the second half, with Franchisee like-for-like sales growth at 13% in October and 2.0% for the first two weeks of November. Online sales have continued to increase strongly following the launch of the Cake Box delivery service, up 57% year-on-year in the six weeks since the end of September.
"We have shown considerable resilience during an unprecedented half year period and have emerged a stronger business for it. This is demonstrated by the strength of our trading momentum since reopening the business, with our franchisee like-for-like sales up by 12.1%, including a 51% increase in online franchisee sales, six new franchise stores opened and a record number of new store applications," says Chief Executive Sukh Chamdal.
Current stock price: 185.80 pence
Year-to-date change: up 13%
By Lucy Heming;Â lucyheming@alliancenews.com
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Cake Box Holdi. (CBOX)