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Cake Box Holdings Plc #CBOX announced, in its trading update for the full year ended 31 March 2020, that in the period to 8 March 2020, trading continued to be strong across the Group, with like-for-like sales growth of approximately 5.1% in franchise stores. However, the Group saw a reduction in sales across its franchise stores as the COVID-19 crisis developed during the remainder of March 2020. The Group expects to report revenue for the year of around £18.7 million, up around 10% compared to the same period last year despite the disruption experienced in March 2020 from COVID-19. The Board expects adjusted profit before tax to be in the range of £4.1 - 4.3 million (FY19: £4.0 million). This figure excludes a £1.4 million uplift from the freehold revaluation of the Group's Enfield warehouse and head office which is expected to be included in the Group's statutory numbers. The Group has a strong pipeline of new franchise store openings, although there may be an impact on the timing of openings as a result of COVID-19, as there has been during March 2020. The Group will confirm the date for its full year results for the 12 months ended 31 March 2020 in due course.
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