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Fresh cream cakes retailer Cake Box hiked its dividend after reporting that profit more than doubled in the first half of the year as revenue was bolstered by recored store openings.
For the six months ended 30 September 2021, pre-tax profit rose 122.2% to £3.70 million year-on-year as revenue increased 91.8% to £16.47 million.
The company said 20 new franchise stores were added in the period.
The company declared an interim dividend of 2.50p per share, up 35.1% on last year's 1.85 pence.
Post the half-year period, trading remained 'strong with franchisee like for like sales at 14.4% in October and online sales up 46.6% in October,' the company said.
'Our fantastic franchisees, supported by their dedicated team members, have helped us deliver record first half store openings, revenues, profits and dividends, while making further significant strategic progress that gives us momentum into the second half,' it added.