Annual profits rise for Cake Box
Cake Box Holdings enjoyed an increase in profits in the year to the end of March.
The fresh cream celebration cakes business has 225 franchise stores across the UK including in Bearwood, Dudley, Smethwick, Stourbridge, Telford, Walsall and Wolverhampton.
Growthwas driven by increased franchise store sales, new store openings and enhanced efficiencies.
Revenue rose 8.7 per cent to £37.84 million with pre-tax profits ahead 15.1 per cent to £6.26m.
There were 20 new Cake Box stores openings in the year.
Online sales grew by16.1 per cent to £16.1m .
So far in the current financial year the performance continues to be robust and in line with management expectations.
Chief executive Sukh Chamdal said: "It has been a successful year for Cake Box delivering robust growth across all areas of our business. Our strategic initiatives, including new store openings, enhanced marketing campaigns, and innovative product launches, have driven a nine per cent increase in revenues. We are pleased to have delivered full year EBITDA ahead of market expectations and to have also further strengthened our balance sheet.
"The launch of our new CRM system, e-commerce website, and brand refresh, along with the success of our increased investment in marketing, has enhanced our brand awareness and customer experience, improving our presence and helping to drive up demand.
"Our success is a testament to the dedication of our team, the franchisees, and the loyalty of our customers. We look forward to building on this momentum, continuing to expand our store estate, and further solidifying Cake Box as the go-to destination for fresh cream celebration cakes."
