Cake Box revenues soared 43% last year, as the chain opened 37 new stores.
“Strong trading momentum” carried the group to £61.2m in revenue in its first full year since acquiring Middle Eastern sweets specialist Ambala Foods.
Excluding Ambala, positive like-for-like sales and store openings pushed the Cake Box brand to 12% growth, reaching £46.7m revenue.
Speaking to investors in advance of its official full-year results in June, the company said profits were expected to have grown in the second half of the year.
“We delivered a strong second-half performance, with full-year growth driven by new store openings, positive like-for-like sales, growing sales via third-party platforms and the maiden full-year contribution from Ambala,” said CEO Sukh Chamdal.
Cake Box opened 37 new stores in the year to a total of 310 shopfronts across the UK.
A “strong contribution” to second-half sales growth also came from third-party delivery services, including Uber Eats, Deliveroo and Just Eat.
“We are confident in the resilience of our business model, underpinned by a growing estate, continued investment in technology and a strong pipeline of franchise opportunities,” said Chamdal.
“At the same time, the impact of recent geopolitical developments is difficult to predict and we remain mindful of the inflationary risks and challenging consumer backdrop.”
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