Cake Box reports higher full-year revenue, underlying earnings

(Sharecast News) - Cake Box reported higher full-year revenue and underlying earnings on Tuesday, supported by continued store expansion, like-for-like growth in its core estate and the first full-year contribution from Ambala. Revenue rose 39.5% to £59.69m in the 52 weeks ended 29 March, while underlying EBITDA increased 41.6% to £12.36m and underlying pre-tax profit rose 22.6% to £8.67m.

Statutory pre-tax profit was up 16.5% at £6.86m.

Cake Box revenue excluding Ambala grew 9.3% to £45.86m, with like-for-like sales up 4.8%, while Ambala contributed £14.14m of revenue and £1.85m of underlying EBITDA.

System sales rose 27.7% to £111.27m, with online sales up 19.7% to £22.89m and website orders rising 15.9%.

The AIM-traded group opened 37 stores during the year, comprising 25 Cake Box sites and 12 Ambala stores, taking the estate to 310 locations.

Cake Box recommended a 7.2p final dividend, up 5.9%, and said trading in the new financial year had started positively, with plans for 35 further store openings despite a challenging consumer backdrop.

At 1055 BST, shares in Cake Box Holdings were up 3.42% at 196.5p.

Reporting by Josh White for Sharecast.com.

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