Cake Box to open more stores after reporting profits jump to £7.7m as its Covid recovery continues
Cake Box plans to open more stores as it reported a pre-tax profit of £7.7million for the latest financial year.
This marked a 83.3 per cent jump from the previous years as the cream cake retailer continued its post-pandemic recovery.
Revenue at the firm rose by 50.7 per cent from £21.9million to £33million.
Sweet success: Cake Box reported a pre-tax profit of £7.7 m for the latest financial year – an 83.3% jump from the previous years as it continued its post-pandemic recovery
Chairman Neil Sachdev said the business aims to open 24 stores in the coming year, which should bring the total to 200 by autumn.
He added that the business will rely on e-commerce more heavily as this financial year saw it record a 41 per cent growth in online sales.
He said: ‘E-commerce is a key sales channel, and we continue to increase our capability and expand our customer reach.’
