Cake Box Holdings Plc Board is to recommend a final dividend of 6.1p per share (FY23: 5.5p). The total dividend for the year will total 9.0p (FY23: 8.125p), a 10.8% increase year on year, continuing the progressive dividend policy employed by the Board. The dividend cover is 1.23x (FY23: 1.3x).
Other financial highlights include:
Group revenue up 8.7% to £37.8m (2023: £34.8m), reflecting an increase in franchise store like-for-like sales and the addition of 20 new stores opening in the year.
Gross margin increased to 52.7% (2023: 49.4%), due to enhanced efficiencies in the production facilities and the stabilisation of raw material and freight costs.
o The gross margin has been impacted by the national marketing levy revenue in FY24, as the costs associated with the revenue are included in administrative expenses
o Excluding this impact, gross margin for FY24 was 50.9%
Strengthened balance sheet with an increase of 19.5% in net cash to £7.3m (2023: £6.1m).
Cash from operations of £6.3m (2023: £6.3m).
