14th Nov 2022 14:25
Cake Box Holdings PLC - Enfield, England-based specialist cream cake retailer - Reports a sharp drop in interim profit as administrative expenses soar. In the six months that ended September 30, pretax profit falls to GBP2.0 million from GBP3.7 million a year before, as cost of sales remain stable at GPB8.8 million while administrative expenses leap to GBP5.9 million from GBP3.9 million year-on-year. Revenue, meanwhile, ticks up to GBP16.8 million from GBP16.5 million, representing growth of 2.1%. Company blames a "very strong" comparative period, "exceptionally" hot weather, higher levels of international travel, and the cost of living crisis for the only slight rise in revenue. Also cites cost pressures and increased business investment for the drop in profit. Looking ahead, Cake Box says it is on track to achieve its full-year expectations despite uncertainty in the economic climate. Read More
