Cooks Coffee Company Limited Trading Update (9571M)

TIDMCOOK

RNS Number : 9571M

Cooks Coffee Company Limited

17 January 2023

17 January 2023

Cooks Coffee Company Limited

("Cooks Coffee", the "Company" or the "Group")

Trading Update

Cooks Coffee Company posts record store sales in the UK for the year

Cooks Coffee (NZX:CCC; AQUIS:COOK), the international coffee focused cafe chain and parent company of the brands Esquires and Triple Two, which is dual listed on the Aquis Growth Market in London and the NZX in New Zealand, is pleased to report a strong sales performance for the year ended 31 December 2022.

Cooks Coffee has recorded strong sales growth in the UK, up 41% on 2021, with store sales in Ireland up by 91%. The Company has focused its efforts on driving sales volumes through its existing estate before embarking on a store expansion programme. Group sites in the UK and Ireland are currently at 85 up from 82 sites as at 31 December 2021.

Since the start of 2023, Esquires has opened a new outlet in Brackley, Northamptonshire. A further four openings are planned before the end of March 2023 in the UK in Northamptonshire, Leicestershire and Bedfordshire. The Triple Two brand is also focused on a number of expansion opportunities, with three new stores currently planning to open in London and Southern England before the end of March 2023.

The Company's financial year end is 31 March and the results for the year ended 31 March 2023 will be announced by 30 June 2023.

Keith Jackson, Executive Chairman of Cooks Coffee Company, said : "These café sales results highlight the resurgence and growth of the business and in this instance surpass those published by other industry leaders.

"The Cooks Coffee franchise model promotes individual entrepreneurship and local community engagement, which appears to be resonating both with people who want to partner with us to open new sites and existing franchisees looking to grow their businesses through innovative new offerings. Having emerged from the pandemic in a healthy position, the Company is now focused on organic growth of the existing network."

Enquiries:

 
 Cooks Coffee Company Limited                [phone] (New Zealand) 
 Keith Jackson (Executive Chairman)          [e-mail] 
 
                                              [phone] (UK) 
                                             [e-mail] 
 
 VSA Capital Limited 
  (Aquis Corporate Adviser & Broker)         [phone] 
 Andrew Raca, Simba Khatai, Alex 
  Cabral 
  (Corporate Finance) 
 David Scriven, Peter Mattsson (Corporate 
  Broking) 
 
 
    IFC Advisory Limited (Financial PR 
     & IR)                                    [phone] 
    Tim Metcalfe, Graham Herring, Florence    [e-mail] 
     Chandler 
 

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January 17, 2023 02:03 ET (07:03 GMT)