Cake Box trading in line with expectations
Cake Box, the maker of egg free cakes, has said its trading was in line with expectations in its first half with adjusted profits ahead of the same time last year.
For the six months to 30 September, the company anticipates that revenues will be up by around 6% following strong like-for-like franchise store sales growth of 6.2% and a series of new shop openings.
Cake Box said it has benefited from the cost of raw materials remaining stable in recent months. In addition, it did not introduce any price increases in the first half, which helped it to retain more customers.
Sukh Chamdal, Cake Box Holdings chief executive, said: “We are pleased with our first half performance, delivering a recovery in sales and margins as raw material and input prices have stabilised. Our brand continues to grow and we have made further strides with our marketing initiatives, with the successful launch of our new website in June 2023 already boosting our online sales channel.”
Looking ahead, he added: “We enter the second half of the year with good momentum and remain confident in our growth prospects following the investment in our operations and our enlarged and enhanced operational team.”
