Cake walk: Cake Box revenues soar 30 per cent after summer IPO

Cake Box today predicted a sweet end to its first year as a public company, telling investors that revenue will rise 30 per cent year on year to a record £17.1m for the 12 months to the end of March.

Like-for-like sales growth of 6.5 per cent was the icing on the cake after the retailer floated on the stock market last June, with new store openings hitting 28 for its full financial year.

Chief executive Sukh Chamdal said: “[We] continue to see strong appetite for our unique customer offer”.

However, like-for-likes grew 15 per cent the year before.

Cake Box has opened 28 storefronts in areas like Harlow, Bury, and Croydon, bringing the total number of franchise stores to 114.

In order to meet customer demand and the retailer's growing presence in the UK, Chamdal said the retailer has “invested in new facilities to support expansion, including two new warehouse and distribution centres in Bradford and Coventry”.

Chamdal believes that the egg-free cake specialist is “ideally positioned to deliver profitable growth and enter our new financial year with confidence”.

Cake Box's shares rose 1.6 per cent to 159p.