Cake Box revenues bounce back following store closures

Fresh cakes retailer Cake Box said on Monday that revenues had improved in the 20 weeks ended 30 September as all of its stores were now open for business following Covid-19 related lockdowns.

Cake Box stated positive momentum in sales seen prior to the onset of Covid-19 had continued following the reopening of its estate, with revenues of £8.6m in the period, up from £6.6m recorded a year earlier and like-for-like sales up 12.1% for the same period.

The AIM-listed group said it continued to witness "an ongoing benefit" from the launch of its delivery service through takeaway platforms like Uber Eats, Just Eat and Deliveroo, with online sales increasing 81% year-on-year.

For the full six month period, which included the six weeks that the company was forced to shutter its locations, came to £8.6m - a slight decline on the £8.8m brought in by the firm at the time a year earlier.

Chief executive Sukh Chamdal said: "This result is testament to the dedication, agility and entrepreneurial spirit of the Cake Box family, particularly our franchisees and their employees.

"Despite the wider environment, our unique proposition for customers and potential franchisees remains highly attractive and we are confident of further progress in the second half."

As of 0910 BST, Cake Box shares were up 4.85% at 173.0p.