TIDMCBOX
RNS Number : 8303N
Cake Box Holdings PLC
04 October 2021
4 October 2021
Cake Box Holdings plc
("Cake Box" or the "Company" or the "Group")
Half Year Trading Update
Cake Box Holdings plc, the specialist retailer of fresh cream
cakes, today announces its half year trading update for the six
months ended 30 September 2021.
Continued trading momentum
Trading during the first half has been strong across the Group's
store estate and online delivery channels, with customers
continuing to respond well to the core Cake Box product proposition
and its brand marketing through social media.
Total revenues for the period were GBP16.4m, an increase of 91%
(H1 2020: GBP8.6m). Revenues for the four months to 30 September
2021 were GBP11.1m (4 months H1 2020: GBP7.4m), an increase of 50%
compared to the same four months last year, which excludes the
impact of the March 2020 lockdown and associated store closures,
with total franchisee sales increasing 13.3% on a like-for-like*
basis.
The Company has continued to see strong growth from its own
online delivery channels via third party platforms including Uber
Eats, Just Eat and Deliveroo, with franchisee online sales
increasing 68% to GBP6.7m during the period (H1 2020: GBP4.0m). On
a four-month basis, franchisee online sales increased 35% to
GBP4.6m (4 months H1 2020: GBP3.4m).
As a result of this strong performance, the Group is confident
of making further progress over the second half and meeting full
year expectations.
Exceptional growth of the Group's store estate
The Group opened 20 new franchise stores in the period
(excluding kiosk openings), with the total number of stores at 30
September 2021 being 174 (H1 2020: 139). New locations added in the
period include Fulham (London), Stevenage and Hull. Three stores
were closed during the period.
The appeal of the Group's franchise proposition is reflected in
the current pipeline of new potential franchisees, with 62 holding
deposits held at period end.
Alongside growth in the franchise store estate, the Group has
continued the roll out of its kiosk offer from existing franchise
stores, with a net three new shopping centre kiosks opened in the
period, including in the Arndale and Trafford centres in
Manchester, taking the total to 19.
The ongoing trial of kiosks with a major supermarket chain has
also expanded, with two new kiosks opened, taking the total number
of supermarket kiosks to seven.
Product range expansion
Continuing to refresh the Group's core celebration cake range
remains an important element of the Group's differentiated product
offering. New launches during the period include the "naked cake"
collection, which customers have responded well to.
Strong balance sheet
The Group's balance sheet remains strong, with net cash of
GBP4.2m at period end.
Notice of results
The Group expects to report its results for the six months ended
30 September 2021 in mid-November 2021.
Sukh Chamdal, Co-founder and Chief Executive Officer, said:
"Our performance during the last six months demonstrates the
ongoing appeal of our unique cake offering. With strong sales
growth accompanied by record expansion of our store estate, the
Board is confident of making further progress in the second half
and meeting full year expectations.
"Our supply chain is robust, with several months of ingredients
and the right measures in place to ensure that no event goes
uncelebrated and no slice of cake goes unbaked, undelivered or
uneaten.
"In light of this ongoing growth, we have continued to invest in
our operations, including expanding our IT capabilities, laying the
foundations for the next phase of expansion, which is underpinned
by a pipeline of 62 holding deposits for new franchise stores.
"In short, more customers are enjoying our delicious egg-free
cakes, and more of our fantastic franchisees are selling it to
them."
For further information, please contact:
Cake Box Holdings plc
Sukh Chamdal, CEO +44 (0) 20 8050
Pardip Dass, CFO 2026
Shore Capital
Stephane Auton +44 (0) 20 7408
Patrick Castle 4090
MHP Communications
Oliver Hughes
Simon Hockridge
Charlie Barker +44 (0) 20 3128
Pete Lambie 8789
* Like-for-like: Stores trading for at least one full financial
year prior to 30 September 2021
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTUOSARAWURRUA
(END) Dow Jones Newswires
October 04, 2021 02:00 ET (06:00 GMT)
Cake Box (LSE:CBOX)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Cake Box (LSE:CBOX)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024
