Cake Box's revenues up by 44% in HY19
The chain plans to launch 15 stores in the second half of the financial year.
Cake Box announced their half-year financial results ended last September 30 with 44% year-over-year revenue growth to £8.28 million from £5.75 million.
Gross profit rose to £3.67 million, up by 47% from last 2017. EBITDA increased by 34% to £2.18 million. Their franchising segment saw a 4.4% like-for-like sales growth with franchisee total turnover rising to £14.1 million.
Online sales also went 86% up to £1.99 million from £1.07 million last year.
“It’s very exciting to be announcing our first set of results as a public company. The Cake Box brand has continued to go from strength to strength and we have made good progress since floatation with our strategic priorities of growing our store estate, investing further in our new products and developing our digital marketing,” Sukh Chamdal, CEO, said.
The bakery chain launched 15 franchise stores during the period, which they plan to reach the same number for second half of the financial year.
“Our performance during the first eight weeks of the second half has been encouraging and we have already opened four new stores. The Group is well placed for further progress and the Board remains confident of another successful year of growth,” Chamdal continued.
(Photo credit: Cake Box Facebook)
