28 April 2026

Cake Box Holdings plc

("Cake Box" or the "Company" or the "Group")

Full Year Trading Update

Strong revenue growth and profitability in line with market expectations, driven by new store openings, positive like-for-like ("LFL") sales, the maiden full-year contribution from Ambala Foods Limited ("Ambala")

Cake Box Holdings plc, the UK's largest retailer of fresh cream celebration cakes, is pleased to provide a trading update for the 52 weeks ended 29 March 2026 ("FY26"), ahead of its full year results announcement expected in June 2026.

Strong H2 performance

As stated in the interim results announced on 26 November 2025, the Group entered the second half of the financial year with strong trading momentum, which was maintained through to the year end, resulting in second-half revenue and profit ahead of first-half levels. This performance reflects disciplined delivery against the Group's growth strategy, including higher-than-expected new store openings, continued growth through its omni-channel offering, positive LFL sales at Cake Box, and the maiden 52-week contribution from Ambala following its acquisition in March 2025.

Accordingly, the Board expects to report Group revenue for FY26 of approximately £61.2m, up 43% on the prior year (FY 2025: £42.8m), with profit in line with market expectations. Excluding Ambala contributions, Cake Box revenues are expected to be approximately £46.7m (FY 2025: £41.9m), a year-on-year growth of approximately 12%.

Cake Box continued to win new customers and deepen engagement through its upgraded CRM platform and enhanced online offering. There was a strong contribution to second-half sales growth from third-party delivery platforms, including Uber Eats, Deliveroo and Just Eat. Together with the Group's own online platform and growing store estate, these channels highlight the strength of the Group's omni-channel model. Ongoing investment in digital capability and in-store service has continued to support customer satisfaction, loyalty and nationwide brand awareness.

In its first full year of trading within the Cake Box group, and with the focus on integration and unlocking operational improvements, Ambala traded broadly in line with expectations. During FY26, steps were taken to align key processes, enhance distribution capability, strengthen organisational structures, and improve the customer proposition through refreshed branding, updated packaging and enhanced in-store presentation. Following these actions, the Board believes the operational foundations are now in place to support future growth and higher profitability as synergies are realised and efficiencies are embedded across the enlarged business.

Continued store rollout

The Group made strong progress in expanding its store estate during FY26, opening 37 new stores, which reflects continued franchise partner demand and the increasing reach of its brands. Of these, 25 were Cake Box stores and 12 were Ambala stores, ahead of the Group's target of opening 10 new Ambala franchise stores during the year. The Group ended FY26 with a total estate of 310 stores.

The enlarged estate, alongside enhanced digital capability, further strengthens the Group's market position and provides a broader platform for future growth.

Macroeconomic environment

The Group continues to keep a close watch on the wider macroeconomic environment and consumer sentiment, including recent geopolitical developments, the impact of which is difficult to predict. These risks are being managed through a focus on operational efficiencies, disciplined cost control and proactive procurement strategies, including hedging its utility costs, while the Group continues to invest in its long‑term growth strategy.

Sukh Chamdal, Co-Founder and Chief Executive Officer, said:

"We delivered a strong second-half performance, with full-year growth driven by new store openings, positive like-for-like sales, growing sales via third-party platforms and the maiden full-year contribution from Ambala.

"We are confident in the resilience of our business model, underpinned by a growing estate, continued investment in technology and a strong pipeline of franchise opportunities. At the same time, the impact of recent geopolitical developments is difficult to predict and we remain mindful of the inflationary risks and challenging consumer backdrop."

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