15th Oct 2018 09:53
LONDON (Alliance News) - Cake Box Holdings PLC on Monday said it traded strongly during its first half with average sales per store continuing to grow and a record number of new store openings.
Shares in Cake Box were trading 6.1% higher on Monday at 173.50 pence each.
For the six months to the end of September, the fresh cream cakes maker said it expects to report revenue growth of 40% year-on-year to GBP8.3 million.
As a result, the company said its profit for the full year will come in ahead of market expectations.
During the period, Cake Box added 15 new franchise stores, bringing the total number of stores to 102.
The company intends to report its half-year results on November 26.
"We look forward to the second half of the financial year with confidence, with a strong pipeline of new franchise stores putting us on track to match the number of stores opened during the first half," said Chief Executive Sukh Chamdal.
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