Sukh Chamdal & Pardip Dass of Cake Box discuss their 91% revenue growth
Episode 381, Oct 05, 2021, 09:25 AM
Sukh Chamdal, Co-founder and CEO & Pardip Dass, CFO of Cake Box #CBOX discuss their half year trading update which showed 91% revenue growth. Revenues for the four months to 30 September 2021 were £11.1m (4 months H1 2020: £7.4m), an increase of 50% compared to the same four months last year, which excludes the impact of the March 2020 lockdown and associated store closures, with total franchisee sales increasing 13.3% on a like-for-like* basis.
Sukh Chamdal, Co-founder and CEO & Pardip Dass, CFO of Cake Box #CBOX discuss their half year trading update which showed 91% revenue growth.
Trading Highlights
Trading during the first half has been strong across the Group's store estate and online delivery channels, with customers continuing to respond well to the core Cake Box product proposition and its brand marketing through social media.
Trading during the first half has been strong across the Group's store estate and online delivery channels, with customers continuing to respond well to the core Cake Box product proposition and its brand marketing through social media.
Total revenues for the period were £16.4m, an increase of 91% (H1 2020: £8.6m). Revenues for the four months to 30 September 2021 were £11.1m (4 months H1 2020: £7.4m), an increase of 50% compared to the same four months last year, which excludes the impact of the March 2020 lockdown and associated store closures, with total franchisee sales increasing 13.3% on a like-for-like* basis.
The Company has continued to see strong growth from its own online delivery channels via third party platforms including Uber Eats, Just Eat and Deliveroo, with franchisee online sales increasing 68% to £6.7m during the period (H1 2020: £4.0m). On a four-month basis, franchisee online sales increased 35% to £4.6m (4 months H1 2020: £3.4m).
As a result of this strong performance, the Group is confident of making further progress over the second half and meeting full year expectations.
About Cake Box
Cake Box is a franchise retailer and manufacturer of cakes with a growing store base across the UK.
Cake Box is a franchise retailer and manufacturer of cakes with a growing store base across the UK.
The first concept store opened in East London in 2008 from which the Group has grown to a franchise estate of 91 stores as at 13 June 2018. The Group specialises in making high quality, individually-crafted and personalised fresh cream cakes for purchase on demand or ordered in advance in store or online. In March 2018, Cake Box was recognised as one of the 100 fastest growing companies by turnover in the UK in the 2018 Sunday Times Virgin 100 Fast Track league table.
The Group’s cakes are completely egg free, which the Directors believe has no effect on taste and texture and allows the Group to service a much larger potential market, including those customers who are unable to eat eggs for dietary or religious reasons.