Cake Box is declaring an interim dividend of 3.4 pence per share representing an increase of 17.2% from last year. The interim dividend will be paid on 12 December 2024 to those shareholders on the register at the close of business on 22 November 2024. The ex-dividend date is therefore 21 November 2024.
Other financial highlights include:
Group revenue up 4.3% to £18.7m (H1 FY24: £18.0m), driven by:
o Increased volumes from 20 stores opened in the prior year
o Seven new stores opened in the six months to 30 September 2024
Positive trading momentum in franchise store sales, with like-for-like sales growth of 2.0% for the half-year, against strong comparatives of 6.2% growth in the same period last year
Gross margins increased to 53.8% (H1 FY24: 50.3%) due to:
o Continued efficiencies in production processes
o The change to accounting for the national marketing levy income in revenue and marketing expenses in administrative expenses which was implemented in August 2023
Continued balance sheet strength with net cash of £5.6m (H1 FY24: £5.9m), after the £0.7m purchase of land for the expansion of the Bradford depot
