Egg-free cake specialist Cake Box is expecting to report a 40% increase in revenue to £8.3m for the first half of its financial year.
The business, which listed on AIM this summer, has today made a trading update for the six months ended 30 September 2018 ahead of its half-year results, to be reported on 26 November 2018.
Founded in 2008 in East London, the business has a manufacturing site in Enfield and supplies a range of fresh cream cakes that can be personalised and collected within one hour.
Cake Box said it traded strongly during the half year, with average sales per store continuing to grow.
The business also made a record number of store openings, with 15 franchise sites added during the period to bring the total number of stores to 102. Recent openings included Bletchley, Northampton and Derby.
“We have delivered a strong trading performance for the period, during which we successfully completed our IPO in June,” said CEO Sukh Chamdal. “We continue to build momentum.”
“We look forward to the second half of the financial year with confidence, with a strong pipeline of new franchise stores putting us on track to match the number of stores opened during the first half.”
The company, which said making all its cakes egg-free enabled it to target a larger potential market, was aiming to open a total of 250 franchise stores in the UK.
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