Strong sales growth for Cake Box
Sales were up 50.7 per cent for Cake Box, the cream cakes retailer, in the year to the end of March.
Revenue was up from £21.9 million in 2020-2021 to £33m.
Pre-tax profits grew by 83.3 per cent to £7.7m for the group which has sites in Brierley Hill, Smethwick, Telford, Walsall and West Bromwich.
There was 41 per cent growth in online sales for the financial year in which 31 new franchise stores opened. There were 185 operating at the end of the year with 15 supermarket kiosks and 20 kiosks in shopping malls.
A new warehouse opened in Enfield in December to support ongoing expansion.
Chief executive Sukh Chamdal said: "Despite a challenging economic and trading environment, we have delivered yet another strong set of results and continue to trade robustly post period end.
"I founded Cake Box at the height of the financial crisis in 2008. These are difficult times for everyone, but as we've seen before, the Group's unique customer and franchisee proposition remains both exciting and enticing. Our people have proven their resilience and commitment through tough times and now is the time for the Cake Box Family of extraordinary entrepreneurs to shine, with support from a bigger, better and more experienced group function.
"The Cake Box family is bigger and more geographically diverse than ever before, and we are serving more customers than ever, with a keen focus on value for money. As I said at the height of the Covid pandemic, there will still be birthdays, marriages and countless moments in our lives to celebrate with a slice of our delicious cake."
