Appetite for special occasions lifts Cake Box sales and profit

PROFITS and sales at bakery chain Cake Box have soared as British consumers continue to mark the “chink of light” of special occasions in tough times.

The egg-free cream cakes retailer reported an 83% rise in pre-tax profit of £7.7 million for the year to end March, from revenue of £33 million, up 51%.

Online sales rose 41% and the firm opened 31 new shops and 14 kiosks in supermarkets and shopping malls.

The company called the current trading and economic environment “increasingly challenging”, but said the pandemic showed “while people may cut down on essential items, celebrating a special occasion provides that one chink of light”. However, it pledged to “further professionalise” the group after a previous audit identified potential issues with the timing of a dividend announcement and the level of distributable reserves to cover it.