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ondon-listed egg-free baker Cake Field set out plans to double its variety of outlets to 400, regardless of revenue falling amid a “distinctive set of macro-economic pressures” final 12 months.
For the 12 months to 31 March, gross sales rose barely to £34.8 million, however amid excessive inflation – particularly for meals objects – pre-tax revenue fell by 28.6% to £5.4 million. Regardless of the decline, the enterprise nonetheless upped its dividend to five.5p per share.
CEO Sukh Chamdal famous that the group was approaching the goal it had set of 250 outlets. In consequence, it set a brand new goal of 400.
“We’ve got continued with our regular retailer opening program so as to add to the 205 Cake Field outlets we had at 12 months finish. As we method the 250 goal variety of shops we set ourselves at our IPO virtually 5 years in the past to the day, we proceed to look to stretch ourselves with a brand new goal of 400 and new methods to offer the UK client with our distinctive egg-free contemporary cream truffles.”
He added that the group hoped to achieve extra clients by an improved web site.
“In the course of the 12 months we now have continued to innovate to satisfy the wants of our clients, labored on bettering our operational infrastructure regardless of dealing with a novel set of macro-economic pressures and continued to develop gross sales and margins,” he stated. “We’re taking a look at new methods to achieve our clients and the brand new web site gives many new advertising and marketing alternatives.
“The market outlook is bettering, our capabilities have been expanded, and the Cake Field model is stronger than ever. We’ve got the proper platform in place for the Group’s improvement to speed up over the approaching 12 months and past.”
