StockMarketWire.com - Fresh cream cakes retailer Cake Box said its first-half profit rose by more than a quarter as the rollout of new stores boosted sales.
For the six months ended 30 September 2019, pre-tax profit rose 27% to £1.74m on-year and revenue climbed 6% to £8.77m.
Like-for-like sales grew 6.9% in franchise stores and franchisee turnover was up by 26% to £17.8m.
The retailer introduced a number of new products to its range during the period, including red velvet cakes.
Nine new franchise stores were added in the period, taking the total to 122 as at 30 September, keeping the company on track to meet its full-year target.
'Trading during the first eight weeks of the second half has been encouraging and we have already opened five new franchise stores, including our first in Wales, and remain on track for our full year franchise store openings target,' Cake Box said.
Story provided by StockMarketWire.com
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