Cake Box Holdings PLC Half Year Trading Update (6922P)
October 14 2019 - 2:00AM
UK Regulatory
TIDMCBOX
RNS Number : 6922P
Cake Box Holdings PLC
14 October 2019
14 October 2019
Cake Box Holdings plc
("Cake Box" or the "Company" or the "Group")
Half Year Trading Update
Cake Box Holdings plc, the specialist retailer of fresh cream
cakes, today announces its half year trading update for the six
months ended 30 September 2019.
The Group has continued to grow strongly during the period, both
through its existing estate and the addition of new stores and
expects to report revenues for the period up c.6% to c.GBP8.8m
compared to the same period last year (HY18: GBP8.3m). Within this,
like-for-like sales* in existing franchise stores grew by 6.9%. As
a result, the Board is confident that the Group will meet current
market expectations for the year.
Nine new franchise stores were added during the period, bringing
the total number of stores to 122. Recent store openings included
Dartford, Derby Central and Slough Central. In addition, three new
franchise stores are expected to open imminently and post the
period end. The new store pipeline remains strong and the Group is
on track to achieve its store opening target for the year.
The Group expects to report its results for the six months ended
30 September 2019 on 25 November 2019.
Sukh Chamdal, Co-founder and Chief Executive Officer, said:
"I am very pleased with our performance over the first half,
particularly our ongoing momentum in like-for-like sales at 6.9%.
We have continued with our new store roll-out, opening nine in the
period. This was slightly lower than the comparative period last
year, however we already have a further three stores fitted-out and
once the final legal processes are completed will be open for
trading and so will be recognised in the second half.
"With a strong pipeline of new stores to meet our opening
targets and a number of other developments underway to improve the
Cake Box proposition, we remain confident in our prospects for the
full year and beyond."
For further information, please contact:
Cake Box Holdings plc
Sukh Chamdal, CEO +44 (0) 20 8443
Pardip Dass, CFO 1113
Shore Capital
Stephane Auton
Patrick Castle +44 (0) 20 7408
Sarah Mather 4090
MHP Communications
Oliver Hughes
Simon Hockridge
Charlie Barker +44 (0) 20 3128
Pete Lambie 8570
*Like-for-like: Stores trading for at least one full financial
year prior to 30 September 2019
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END
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