In line with their progressive dividend policy which reflects their cash generation, earnings progression and confidence in their outlook, today Cake Box Holdings Plc is declaring an interim dividend of 2.9 pence per share representing an increase of 10.5% from last year. The interim dividend will be paid on 15 December 2023 to those shareholders on the register at the close of business on 24 November 2023. The ex-dividend date is therefore 23 November 2023.
Other Financial Highlights:
- Group revenues up 6.8% to £18.0m (H1 FY23: £16.8m).
- Driven by increased volumes from 20 stores opened in the prior year and 9 new stores opened in the six months to 30th September 2023
- The trading momentum for franchise store sales improved from the second half of the prior year, with like-for-like sales growth of 6.2% for the six months ended 30 September 2023.
- Gross margins increased to 49.6% (H1 FY23:47.7%) due to the partial easing of input cost increases and enhanced yield benefits achieved in the distribution centres.
- Continued balance sheet strength with net cash increasing to £5.9m (H1 FY23: £4.2m).