Full Year Trading Update and Notice of Results

RNS Number : 5050V

Cake Box Holdings PLC

09 April 2019

 

9 April 2019

Cake Box Holdings plc

("Cake Box" or the "Company" or the "Group")

Full Year Trading Update and Notice of Results

A record year for the business

Cake Box Holdings plc, the specialist retailer of fresh cream cakes, today announces a trading update for the full year ended 31 March 2019.

The Group traded strongly during the period, with like-for-like sales growth of 6.5% in franchise stores (FY18: 15%) as the Cake Box offer continues to resonate with new and existing customers.

Average sales per store continued to grow and the Group saw a record number of new store openings (28 in the year), including Harlow, Bury and Croydon. The Company ended the period with 114 franchise stores. 

As a result, the Group expects to report revenue for the period of c.£17.1m, up c.30% compared to the same period last year. The Board expects profits for the 2019 financial year to be in line with current market expectations.

The Group will report its full year results for the twelve months ended 31 March 2019 on 24 June 2019.

Sukh Chamdal, Chief Executive Officer, commented:

"Our first year as a public company has been an exciting one. We've achieved record revenues, opened a record number of stores and continue to see strong appetite for our unique customer offer.

"As we continue to grow our presence for customers across the UK, we have invested in new facilities to support expansion, including two new warehouse and distribution centres in Bradford and Coventry.

"We believe the Group ideally positioned to deliver profitable growth and enter our new financial year with confidence."

For further information, please contact:

Cake Box Holdings plc Sukh Chamdal, CEO Pardip Dass, CFO	[phone]
Shore Capital Stephane Auton Patrick Castle James Thomas	[phone]
MHP Communications Oliver Hughes Simon Hockridge Charlie Barker Pete Lambie	[phone]

 

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