The UK's egg-free cake brand has reportedly recored pre-tax profits of £3.8mn for the year upto March, higher than £3.3mn from the year before.
The company witnessed a 33% soar in revenues to £16.9mn and has opened 27 more franchise stores with 113 stores operating across the UK in total. However, they have a target of opening upto 250 stores in the long run.
The retailer has added that like-for-like sales at franchise stores grew 6.5 per cent, while online sales meanwhile skyrocketed by 58 per cent to £4.4 million
“These results demonstrate the continuing appeal of the Cake Box brand, to both customers and franchises, combined with the financial strength of the group, particularly the strong cash generative nature of our business model,” said chief executive Sukh Chamdal to Retail Gazette.
