The Handmade Cake Company, the Berkshire-based foodservice cake business, has reported an increase in operating profit from £1.7m to £2.4m for the year ending 31 March 2015.
According to audited accounts submitted to Companies House, the company’s revenue passed £12m and sales grew by 19% since the last financial year, in both the UK and Europe, despite the fall in the value of the euro limiting the extent to which profits could grow.
The company was bought by French group Européene des Desserts (EDD) last year, in which independent investment firm Equistone Partners Europe took a majority share a year ago. A statement from The Handmade Cake Company said: “Joining forces with EDD gives us access to a much broader range of products and expertise including high-care desserts and some premium French sweet bakery products.”
The Handmade Cake Company has since acquired new bakery premises and a second building next to the bakery for a bigger freezer space, loading bays and offices, making more space for its baking. This is to double its production capacity and to increase the range of products it can both make and store, such as expanding its range of gluten-free products.
The Handmade Cake Company has been a business for 30 years, since Anne and Andrew Perry joined forces with Diana Maher and her kitchen to bring handmade cakes to caterers and coffee shops across the country.