In the 20 weeks to September 30, like-for-like sales jumped 12%, while total sales rose 23% to £8mln thanks to the launch of the delivery service through takeaway platforms Uber Eats, Just Eat and Deliveroo.
However, the full six-month period to the end of September saw sales dipping 2% to £8mln since it included six weeks of closures.
Six new franchise stores were added to the cake maker’s estate, now totalling 139 sites.
The period ended with £5mln in the cash after the retailer repaid the funds accessed under the government’s furlough scheme.
“We suggest post lockdown LFL trading has remained in line with the over 14% previously reported,” analysts at Shore Capital commented.
“Cake Box remains immature in the UK (stores target 250) and has a capital-light franchise model forecast to drive double-digit medium-term EPS growth and attractive strong double-digit returns from an already strong balance sheet.”
Shares advanced 5% to 173.5p on Monday at the opening bell.
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Published at Mon, 12 Oct 2020 08:28:00 +0000-Cake Box sees sales jump after reopening stores