- Cake Box said it expected annual profits to meet market expectations with revenue forecast to be up nearly 30% as the company opened a record number of new stores.

For the full year ended 31 March 2019, the group expected to grow revenue nearly 30% to £17.1m, but like-for-like sales slowed to 6.5% in franchise stores from 15% a year earlier.

Average sales per store continued to grow and the group saw a record number of new store openings of 28 in the year. The company ended the period with 114 franchise stores.

'As a result, the Group expects to report revenue for the period of c.£17.1m, up c.30% compared to the same period last year. The Board expects profits for the 2019 financial year to be in line with current market expectations,' the company said.

The group will report its full year results for the twelve months ended 31 March 2019 on 24 June 2019.

At 9:17am: [LON:CBOX] Cake Box Holdings Plc Ord Gbp0.01 share price was +1.5p at 158p

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