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Cake Box Holdings PLC - Enfield, England-based specialist cream cake retailer - Reports a sharp drop in interim profit as administrative expenses soar. In the six months that ended September 30, pretax profit falls to £2.0 million from £3.7 million a year before, as cost of sales remain stable at GPB8.8 million while administrative expenses leap to £5.9 million from £3.9 million year-on-year. Revenue, meanwhile, ticks up to £16.8 million from £16.5 million, representing growth of 2.1%. Company blames a "very strong" comparative period, "exceptionally" hot weather, higher levels of international travel, and the cost of living crisis for the only slight rise in revenue. Also cites cost pressures and increased business investment for the drop in profit. Looking ahead, Cake Box says it is on track to achieve its full-year expectations despite uncertainty in the economic climate.
Current stock price: 113.10 pence, up 3.8% on Monday afternoon in London
12-month change: down 72%
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