UK's Cake Box rises on upbeat outlook, div hike

Cake Box Holdings

14/11/2022 09:14

** Cake Box Plc's shares  CBOX.L  up as much as 9.17% at
119p, set for biggest intra-day gain in over two months
    ** UK-based cake maker says on track to achieve FY market
expectations; HY gross profit up 5.5% to 8 mln pounds ($9.5 mln)
    ** Adds October like-for-like franchisee sales up 4.6% and
total franchisee sales in six weeks to Nov. 6 up 12.9%
    ** CBOX says it began to see sales recovery, continued
growth of franchise store estate once summer holiday period got
over
    ** Analysts at brokerage Liberum point to "much improved
outlook" after a tough H1
    ** Co hikes interim dividend by 5% to 2.625p
    ** Including session's gains, stock has fallen ~68% YTD
 
 ($1 = 0.8456 pounds)
 (Reporting by Hani Kollathodi in Bengaluru)
 ((Hani.Kollathodi@thomsonreuters.com;))