LONDON (ShareCast) - (Sharecast News) - Cake Box Holdings said on Monday that it was delaying publication of its full-year results after the specialist baker's auditor asked for more time.
The AIM-listed business, known for its egg-free celebration cakes, said the audit was already "well advanced".

It also noted that the business had continued to trade "strongly" since its last update in March, with full-year revenues and earnings both now expected to be slightly ahead of expectations.

But following its £22m acquisition of Asian sweet seller Ambala Foods in March, Cake Box said MHA Audit Services had requested a "small amount" of additional time to complete its standard audit procedures.

As a result, it now expects to publish results for the year to 30 March on 15 July. They had previously been slated for publication in June.

Analyst and investor presentations scheduled for later this week have also been postponed.

Shares in Cake Box, the UK's largest franchise retailer of fresh cakes, were largely unchanged as trading got underway in London, at 180.75p.

Darren Shirley, analyst at Shore Capital, acknowledged the trading update, but added: "At this stage, so close to results, we leave forecasts unchanged awaiting the greater granularity provided on 15 July."

Shore Cap is currently expecting full-year earnings before interest, tax, depreciation and amortisation of £8m on revenues of £40.5m.

Cake Box is a house stock at Shore Cap.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE