Cake Box up after strong restart

The price of shares in AIM-listed bakers Cake Box Holdings (LON:CBOX) climbed 6.76% to 176.16p (as of 15:30 BST) after the firm reported that revenues for the half year ended 30th September fell by just 2.2% despite all stores being closed for six weeks. Like-for-like sales rose 12.1% during the period since reopening and management said that the business was seeing benefits from the launch of delivery options using digital takeaway platforms.

CEO Sukh Chamdal commented: “This result is testament to the dedication, agility and entrepreneurial spirit of the Cake Box family, particularly our franchisees and their employees.

“We continue to see strong momentum across the business both in store and online, with like-for-like sales of 12.1% since reopening the business. We have received a record number of new store applications, giving us confidence that the momentum in our national rollout will return to pre-COVID levels.

“Despite the wider environment, our unique proposition for customers and potential franchisees remains highly attractive and we are confident of further progress in the second half“.