Cake Box Sees Profit Growth on Franchisee Stores Expansion Strategy - MarketWatch

By Najat Kantouar

Cake Box Holdings said that first-half earnings were in line with the board's expectations and that it expects higher revenue and adjusted profits on the back of its expansion strategy.

The London-listed cake retailer said Wednesday that it expects to report revenue growth of 6% year-on-year, with adjusted profits ahead of first half of fiscal 2023 reflecting strong like-for-like franchise store sales growth and new store openings.

Franchisee store like-for-like sales increased by 6.2% compared with a fall of 1.6% for the same period a year earlier.

"We enter the second half of the year with good momentum and remain confident in our growth prospects following the investment in our operations and our enlarged and enhanced operational team," Chief Executive Officer Sukh Chamdal said.

Shares at 0708 GMT were down 1.0 pence, or 0.7%, at 144.0 pence.

Write to Najat Kantouar at najat.kantouar@wsj.com

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