NEWSFLOW
Cake Box (#CBOX) – FY adj. EPS up to 13.8p, DPS 7.6p, sales currently “robust”
- 2022-06-27 07:29:44
Specialist retailer of cream cakes Cake Box (CBOX) has announced it will publish full-year results on 27th June following an end of year audit process which has raised “an issue” in terms of the Companies Act 2006 and past dividend payments. Hmmm!
A “Trading Update” announcement from Cake Box Holdings (CBOX) commences that “the specialist retailer of fresh cream cakes, is pleased to announce a full year trading update for the 12 months ended 31 March 2022” and concludes that “with a strengthened team and investment in our operations and processes, we have all the right ingredients to continue to sustainably grow the Cake Box customer base, brand and Family”. So what of the announcement and a share price responding up to above 200p?...
Following, in January, excellent analysis noting accounting issues by Maynard Paton and added to by Tom Winnifrith on this website, Cake Box Holdings (CBOX) played it down as “commentary from a retail investor blogger”. Now “Management Changes and Trading Update”…
Both on Friday and today shares in Cake Box (CBOX) have fallen sharply. When Maynard Paton and this website first raised questions about the accounts and other matters just three weeks ago the stock was 325p. It is now 180p. So what is going on?
Today we were told that the COO of Cake Box (CBOX) had bought £50,000 of shares yesterday. Compared to the £10.5 million dump by his boss in November it is peanuts. Showing rather poor form, Dr Jaswir Singh made the purchase BEFORE rather than AFTER the company put out a weedy and patronising RNS trying to refute the bear case as explained HERE on Sunday. Surely the good Dr was aware that a refutation was coming and thus had price sensitive information? While Dr Singh was dealing like a dervish, Lucian Miers went to visit the franchise stores in Eastleigh and Southampton. The photo below is from Eastleigh.