AGM Trading Update
RNS Number : 4228D
Cooks Coffee Company Limited
10 September 2024
Cooks Coffee Company Limited
("Cooks Coffee", the "Company" or the "Group")
AGM Trading Update
Cooks Coffee Esquires branded UK and Irish FY24 store sales up 23.1%
Cooks Coffee Company (NZX:CCC; AQUIS:COOK), the international coffee focused café chain, is pleased to provide a trading update covering the Company's Esquires branded franchised coffee focused stores in the UK & Ireland for the 22 weeks of its financial year to 1st September 2024.
Highlights
- Group store sales up 23.1% at £13.8m (NZ$28.5m)
- UK store sales up 32.4% at £9.5m (NZ$19.7m) and Ireland store sales up 6.4% at £4.3m (NZ$8.8m)
- 83 Group sites in the UK and Ireland as at 1st September 2024, up from 75 as at 1 April 2024
- Strong pipeline of new stores with more than 10 further outlets expected to open before the end of the financial year
During the period, the Company added nine new stores in the UK and Ireland and closed one. The Company is benefitting from positive operating cash flow reaffirming its positive trajectory and underscores its continued progress.
Aiden Keegan, CEO of Cooks Coffee Company, said: "
We are delighted with the sales growth within our current coffee store locations and with the performance of the new stores.
"FY25 to date has witnessed the Company setting new records and this success reflects the dedication of our extended team of shareholders, directors, franchisees, regional developers, and Company staff and most importantly the support from our valued customers. We remain committed to delivering great in-store experiences and setting new benchmarks in the months ahead through our dedicated team of local franchise store owners. We look forward to updating the market further in due course."
AGM presentation and Notice of Results
A copy of the AGM presentation can be found on the Company's website: https://cookscoffeecompany.com/investor-relations . The unaudited interim results for the first six month period to 30 September 2024 will be announced by 30 November 2024.
Enquiries:
Cooks Coffee Company Limited
Keith Jackson (Executive Chairman)
+64 21 702 509 (New Zealand)
keith.jackson@cookscoffeecompany.com
Aiden Keegan (Chief Executive)
+44 (0) 7980 608 440 (UK)
aiden@esquirescoffee.co.uk
+44 (0) 20 3934 6630 (UK)
ukinvestorrelations@cookscoffeecompany.com
IFC Advisory Limited (Financial PR & IR)
+44 (0) 20 3934 6630
Tim Metcalfe, Graham Herring,
Florence Chandler
cookscoffee@investor-focus.co.uk
Oberon Capital (AQSE Corporate Adviser and Broker)
+44 (0) 20 3179 5300
Nick Lovering, Adam Pollock, Mike Seabrook