Updates

Cake Box

February 2026

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

After bottoming in late 2022, the shares fashioned an impressive ascent to a new high of 220p last October. Interims for the 26 weeks to 28 September were particularly rosy, with sales up almost 54% to £28.8m, aided by a first time contribution from Asian sweet manufacturer Ambala, acquired from the estate of the founder. Group EBITDA rose 31% to £4.5m and pretax profit only fell 4% to £2.6m because Ambala is heavily second half weighted (reflecting the timing of Diwali and Eid) and made a £0.1m loss. EPS fell 11.5% reflecting higher finance charges and more shares in issue. Closing net debt increased to £11.6m from cash of £5.6m, reflecting the £22m outlay on Ambala, whose integration is progressing well with efficiencies already realiz ...

To access our archive of articles and to receive current issues you need to subscribe.

Subscribe now

Already a subscriber? Login

GB Group - Sitting duck for a take-over on PE of 11.9x

Cake Box - Ambala drives eps upgrades to 14.3p,16.5p and 18.7p (September 2025)

Cake Box - Acquisition of Ambala provides second leg in Asian sweets (May 2025)

Cake Box - New openings ahead of schedule (January 2025)

Cake Box - Rising sponge sales drives gross margin increase (August 2024)

Cake Box (June 2024)

Cake Box - Gross margin lifts sharply (January 2024)

Cake Box - Upgraded site target not reflected in lowly prospective PE of 11.2 and then 9.7 (December 2023)

Cake Box Like-for-like sales accelerate (October 2023)

Cake Box - Rejects bid approach (September 2023)

Cake Box - Cake shop franchise on the turn; PE less than half former peak (February 2023)

Cake Box (October 2022)

Cake Box (August 2022)

Cake Box - Strong pipeline of new opening (December 2021)

Cake Box - Liberum upgrades price target to 450p (November 2021)

Cake Box (August 2021)

Cake Box - Target price raised to 360p (June 2021)

Cake Box (December 2020)

Cake Box (November 2020)

Cake Box - Franchised cake shop business with plans to double estate to 250 stores (August 2020)

Cake Box - IPO spikes to large premium (August 2018)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X