Cake Box boosted by half-year profit uplift

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Cake Box boosted by half-year profit uplift
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The price of shares in AIM-listed baker Cake Box Holdings (LON:CBOX) has grown by 4.32% to 145p (as of 11:30 GMT) after pre-tax profits improved by 27% for the six months ended 30th September. Revenues for the half year rose by 6% as the company launched a number of new products and opened new locations.

CEO Sukh Chandal said: “During the period our focus has been on the consolidation of our strategy as we continue to grow the business through rolling out new stores, improving our customer offer and expanding our customer base, which is attracted to our unique, egg-free proposition. Our continued momentum has again led to a good financial performance during the half.

“We have added nine stores to our portfolio during the half year, have a good pipeline for the remainder of the second half and are on track to achieve our store openings target for the year.

“Trading during the first eight weeks of the second half has been encouraging and we have already opened five new stores, including our first in Wales.

“With initiatives continuing apace to enhance our product offer, and with strengthened operational capabilities through our new warehouse and distribution facilities, we remain on track for another year of growth”.

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