REG - Cake Box Holdings - Full Year Trading Update and Notice of Results

Cake Box HoldingsAnnouncement

09/04/2019 07:05

RNS Number : 5050V
Cake Box Holdings PLC
09 April 2019
 


9 April 2019
 
Cake Box Holdings plc
("Cake Box" or the "Company" or the "Group")
 
 
Full Year Trading Update and Notice of Results
 
A record year for the business
 
Cake Box Holdings plc, the specialist retailer of fresh cream cakes, today announces a trading update for the full year ended 31 March 2019.
 
The Group traded strongly during the period, with like-for-like sales growth of 6.5% in franchise stores (FY18: 15%) as the Cake Box offer continues to resonate with new and existing customers.
 
Average sales per store continued to grow and the Group saw a record number of new store openings (28 in the year), including Harlow, Bury and Croydon. The Company ended the period with 114 franchise stores. 
 
As a result, the Group expects to report revenue for the period of c.£17.1m, up c.30% compared to the same period last year. The Board expects profits for the 2019 financial year to be in line with current market expectations.
  
The Group will report its full year results for the twelve months ended 31 March 2019 on 24 June 2019.
 
Sukh Chamdal, Chief Executive Officer, commented:
 
"Our first year as a public company has been an exciting one. We've achieved record revenues, opened a record number of stores and continue to see strong appetite for our unique customer offer.
 
"As we continue to grow our presence for customers across the UK, we have invested in new facilities to support expansion, including two new warehouse and distribution centres in Bradford and Coventry.
 
"We believe the Group ideally positioned to deliver profitable growth and enter our new financial year with confidence."
 
 
For further information, please contact:
 



Cake Box Holdings plc
Sukh Chamdal, CEO
Pardip Dass, CFO
 


+44 (0) 20 8443 1113




Shore Capital
Stephane Auton
Patrick Castle
James Thomas
 


+44 (0) 20 7408 4090




MHP Communications
Oliver Hughes
Simon Hockridge
Charlie Barker
Pete Lambie
 


+44 (0) 20 3128 8570



 
 




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