2020 Preliminary Report
Cooks reports positive operating income from continuing business
SUMMARY
• Total group revenue from continuing activities increases 1.7% to $4 million
• Operating income before depreciation, amortisation & finance charges $1.1m profit compared to prior year loss of $2.3m
• Operating profit from continuing operations after tax improves to $0.4 million from net loss of $2.6 million last year reflecting a restructuring of the Group’s loss-making business units.
• The Covid-19 impact in all markets applied from mid-March with the revenue declines supported by various levels of government support packages that mitigated the full impact.
• There has been a slowing of new store growth as openings have been deferred due to the Covid closed downs mandated by various governments.
• While there have been delays there have been no closures of existing stores or withdrawal from opening plans of any new stores through the global network attributable to Covid-19.