Cooks Coffee Company Group Store Sales Up 15.8%

16 January 2024
Cooks Coffee Company Limited
("Cooks Coffee", the "Company" or the “Group”)
Trading Update
COOKS COFFEE COMPANY GROUP STORE SALES UP 15.8%
Cooks Coffee Company (NZX:CCC; AQUIS:COOK), the international coffee focused café
chain, is pleased to provide a trading update covering the Company’s franchised coffee
focused stores in the UK & Ireland for the calendar year ended 31 December 2023. The
Company’s financial year end is 31 March and the results for the financial year ended 31
March 2024 will be announced by 30 June 2024.
Highlights
- Group store sales up 15.8% at $53.8m (£26.9m), 2022: $46.4m (£23.2m).
- UK store sales up 18.6% at $35.0m (£17.5m), 2022: $29.4m (£14.7m) and Ireland
store sales up 11.0% at $18.8m (£9.4m), 2022: $17.0m (£8.5m).
- 71 Group sites in the UK and Ireland as at 31 December 2023, up from 62 as at 1
January 2023.
- The short-term pipeline is strong with 6 to 8 outlets expected to open in Q1
2024.
- December 2023 saw a record month for the Group for the highest-ever store
sales.
- Esquires achieved weekly store sales of NZ$1.2m (£600,000) for the first time
across the UK and Ireland in December 2023.
Cooks Coffee has experienced robust sales expansion in both the UK and Ireland during
2023, with a 15.8% growth in sales from the Group’s outlets to $53.8m (£26.9 m),
$46.4m, 2022: (£23.2m). Within the UK, store sales increased by 18.6%, reaching
$35.0m (£17.5m, 2022: $29.6m (£14.8m), while in Ireland, store sales increased by
11.0%, totalling $18.8m (£9.4m), 2022: $17.0m (£8.5m).
The Company has prioritised boosting sales within its existing locations and has also
pursued a store expansion initiative. By the end of 2023, Cooks Coffee added nine new
stores in the UK and Ireland, totalling 71 Group sites compared to 62 as at 1 January
2023. During the year Cooks Coffee opened 12 stores in UK and closed five, whilst in
Ireland three stores opened and one closed. Like for like sales in UK for 2023 were up

6.0% and in Ireland up 6.8% whilst the sales from the new stores opened during 2023
accounted for 12.3% of total sales in the UK and 13.4% in Ireland in 2023.
Throughout the year, momentum steadily increased, reaching a new record in
December 2023 as Esquires achieved weekly store sales of over $1.2m (£600,000) for
the first time across the UK and Ireland in the week prior to Christmas.
The Company is benefitting from positive operating cash flow compared to an operating
cash outflow in the same period last year which reaffirms the positive direction of travel
for the Company.

(Image: Esquires Alton Store)
Keith Jackson, Executive Chairman of Cooks Coffee Company, said: “We are delighted
with the robust sales growth within our current coffee store locations as we
simultaneously progress our expansion programme, opening new stores.”
“December has been a record-breaking month for us and this success reflects the
dedication of our extended team of shareholders, directors, franchisees, regional
developers and company staff and the overwhelming support from our valued

customers. We remain committed to delivering exceptional 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.”
Enquiries:
Cooks Coffee Company Limited
Keith Jackson (Executive Chairman) +64 21 702 509 (New Zealand)
keith.jackson@cookscoffeecompany.com

Angela Griffen +64 275 780889
angela@angelagriffen.co.nz