Eggs-free cakes maker Cake Box (CBOX:AIM) reported a rise in annual profit as revenue was boosted by a record franchisee sales despite the pandemic impact.
For the 12 months ended 31 March 2021, pre-tax profit jumped 11.8% to £4.2 million year-on-year as revenue increased 16.9% to £21.9 million.
Online sales grew 84%, and like-for-like sales grew 14.7% in franchise stores, up from 5.1% in the 40 week comparable period from 1st June 2020 to 7th March 2021.
The dividend per share for the full year was 3.7 pence per share.
Nine new franchise stores were opened in the first quarter of full year 2022, with the company targeting 18-to-24 new franchise store openings for the year.
‘Despite continued uncertainty in the operating environment, our unique proposition for customers and new and existing franchisees remains highly attractive and we are confident of making continued progress in the years ahead,’ the company said.
