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RNS Number : 9567T Cooks Coffee Company Limited 21 January 2025
21 January 2025
Cooks Coffee Company Limited
("Cooks Coffee", the "Company" or the "Group")
Trading Update
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 (The Organic Coffee Company) branded franchised coffee focused
systemwide stores in the UK & Ireland for the three months ended 31
December 2024, alongside an update for the nine months of the financial year
to the same date. Systemwide sales are highly correlated to company income as
all outlets in the UK and 15 of 18 stores in Ireland are franchised.
Highlights
· Nine Months to 31 December 2024:
o Group store sales up +26.2% at £25.5m
o UK store sales up 33.8%, at £17.7m and Ireland store sales up 11.9% at
£7.8m
o Like-for-like sales: UK +2.8%, Ireland +5.1%
· In the 13 Weeks to 31 December 2024:
o Overall growth of +32.4%
o UK growth of +36.5%, with Ireland achieving growth of +23.9%
· 87 Group sites in the UK and Ireland as at 31 December 2024, up from 71 at 31
December 2023
· Continued positive operating cash flow underpinned by strong trading momentum
· Strong pipeline of new stores with more than 6 further outlets expected to
open before the end of the financial year
· Board and finance department strengthened in the period with appointment of
Katherine Scott as Chief Financial Officer
During the period, Esquires Coffee House Ireland Ltd (Esquires) announced a
significant partnership with Dairygold Agri Business Limited (Dairygold).
Under this agreement, Esquires will operate and manage four cafés located
within Dairygold's Co-Op Superstores across Ireland. Additionally, Esquires
Coffee's Caerphilly branch in Wales was honoured with the title of "Best
Ethical Coffee Enterprise" at the esteemed Welsh SME News Awards.
Aiden Keegan, CEO of Cooks Coffee Company, said: "We are proud to see strong
sales growth across our existing coffee stores and newest locations. The
performance in FY25 so far highlights the incredible dedication of our team
and the passion of our regional developers & franchise partners. As
previously reported, the pipeline of new stores is solid and the Company
expects that it will continue to grow the number of Esquires outlets operating
in UK & Ireland by the end of March 2025 and we expect to have more than
100 stores operating by the end of 2025. Given the strong trading momentum
in the business, we remain confident about the future prospects of the Group
and view the future with optimism."
Enquiries:
Cooks Coffee Company Limited +64 21 702 509 (New Zealand)
Keith Jackson (Executive Chairman) 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
(mailto:ukinvestorrelations@cookscoffeecompany.com)
IFC Advisory Limited (Financial PR & IR) +44 (0) 20 3934 6630
Tim Metcalfe, Graham Herring, cookscoffee@investor-focus.co.uk (mailto:cookscoffee@investor-focus.co.uk)
Florence Chandler
Oberon Capital (AQSE Corporate Adviser and Broker) +44 (0) 20 3179 5300
Nick Lovering, Adam Pollock, Mike Seabrook
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