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Heat oven to 190C/170C fan/gas 5. Line a 2lb/900g loaf tin with baking parchment.
Beat the caster sugar and butter using an electric whisk or wooden spoon. Whisk in the eggs and vanilla, then gently stir in the flour, ground almonds, milk and caraway seeds.
Pour the mixture into the tin. Sprinkle over the demerara sugar and flaked almonds, then bake for 1 hr or until a skewer poked into the cake comes out clean. Remove from the tin and leave to cool on a wire rack.