Cake Box sees profits surge to £15.8m
The cake retailer alo saw its revenue increase by 50.7% to £33m, and its pre-tax profit climb by 83.3% to £7.7m
Cake Box has revealed its gross profits increased by 45% in the year up to 31 March 2022 to £15.8m.
The cake retailer’s revenues also increased by 50.7% to £33m and its pre-tax profit climbed 83.3% to £7.7m.
The company’s online sales grew by 41% in the period while the number of franchise stores increased to 185 following 31 new openings.
In its outlook, the company said it aims to increase its geographic presence with future store opening, and ramp up its marketing investment.
Sukh Chamdal, chief executive officer, said: “Despite a challenging economic and trading environment, we have delivered yet another strong set of results and continue to trade robustly post period end.
“The Cake Box Family is bigger and more geographically diverse than ever before, and we are serving more customers than ever, with a keen focus on value for money. As I said at the height of the Covid pandemic, there will still be birthdays, marriages and countless moments in our lives to celebrate with a slice of our delicious cake.”
