Cake Box Holdings PLC Trading Update (4874I)
April 19 2022 - 2:01AM
UK Regulatory
TIDMCBOX
RNS Number : 4874I
Cake Box Holdings PLC
19 April 2022
19 April 2022
Cake Box Holdings plc
("Cake Box" or the "Company" or the "Group")
Full Year Trading Update
Continued sustainable growth with an exceptional year for store
openings
Cake Box Holdings plc, the specialist retailer of fresh cream
cakes, is pleased to announce a full year trading update for the 12
months ended 31 March 2022.
Continued sustainable growth
Trading during the second half has continued to be strong across
the Group's store estate and online delivery channels. Accordingly,
the Group expects to report revenues for the year as up c.50%
year-on-year, with adjusted profit before tax in line with market
expectations.
Revenues for the ten months to 31 March 2022, excluding the
impact of the March 2020 lockdown and associated store closures
from the comparative period, are expected to have increased c.32%,
with total franchisee sales increasing 12% on a like-for-like*
basis.
Our online delivery and Click & Collect options continue to
expand the Group's customer base, and franchisee online sales
increased c.41% during the year and c.27% on a ten-month basis.
An exceptional year for store openings
The Group opened 11 new franchise stores in the second half
(excluding kiosk openings), bringing the total number of stores
opened in the full year to 31 (FY 2021: 24), and leaving the total
number of Cake Box stores at period end at 185. New locations
opened in the second half include Tottenham, Plymouth and
Sunderland.
There continues to be a high level of interest in Cake Box's
differentiated franchise proposition, with both strong demand for
new stores from existing franchisees and a pipeline of new
franchisee applicants representing 53 holding deposits held at the
period end.
The successful trial of Cake Box kiosks with Asda has continued
to expand, with ten new kiosks opened during the year, taking the
total number of Asda kiosks to 15 in addition to the Group's 20
shopping centre kiosks.
Balance sheet
The Group's balance sheet remains strong, with a significant
increase in the Group's net cash position, which stands at GBP5.2m
at period end (FY 2021: GBP3.6m).
Sukh Chamdal, Co-founder and Chief Executive Officer, said:
"We have delivered another record performance for the year,
demonstrating the continuing appeal of our customer and franchisee
proposition. Our strategy to reach customers across the UK is
starting to deliver. This is thanks to the dedication,
determination and commitment of the exceptional entrepreneurs in
our Cake Box Family, which continues to grow, providing
opportunities for entrepreneurs, creating jobs and providing
delicious, fresh cream cakes up and down the country.
"With a strengthened team and investment in our operations and
processes, we have all the right ingredients to continue to
sustainably grow the Cake Box customer base, brand and Family."
For further information, please contact:
Cake Box Holdings plc Enquiries via MHP
Sukh Chamdal, CEO Communications
David Forth, CFO
Shore Capital
Stephane Auton
Patrick Castle +44 (0) 20 7408
Fiona Conroy -Corporate Broking 4090
MHP Communications +44 (0) 20 3128
Simon Hockridge 8570
Pete Lambie cakebox@mhpc.com
* Like-for-like: Stores trading for at least one full financial
year prior to 31 March 2022.
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END
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