Cooks Coffee Company Limited Trading Update (6623Z)
15 Enero 2024 - 1:00AM
UK Regulatory
TIDMCOOK
RNS Number : 6623Z
Cooks Coffee Company Limited
15 January 2024
15 January 2024
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 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 GBP26.9m (2022: GBP23.2m).
- UK store sales up 18.6% at 17.5m (2022: GBP14.7m) and Ireland
store sales up 11.0% at GBP9.4m (2022: GBP8.5m).
- 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 GBP600,000 (NZ$1.2m)
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 a15.8% growth in sales from the
Group's outlets to GBP26.9 million (2022: GBP23.2 million). Within
the UK, store sales increased by 18.6%, reaching GBP17.5 million
(2022: GBP14.8 million), while in Ireland, store sales increased by
11.0%, totalling GBP9.4 million (2022: GBP8.5 million).
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 GBP600,000 (NZ$1.2m) 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.
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 +64 21 702 509 (New Zealand)
Keith Jackson (Executive Chairman) keith.jackson@cookscoffeecompany.com
+44 (0) 20 3934 6630 (UK)
ukinvestorrelations@cookscoffeecompany.com
IFC Advisory Limited (Financial
PR & IR) +44 (0) 20 3934 6630
Tim Metcalfe, Graham Herring, 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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NEXFELBFZFLBBBX
(END) Dow Jones Newswires
January 15, 2024 02:00 ET (07:00 GMT)
Cooks Coffee (AQSE:COOK)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Cooks Coffee (AQSE:COOK)
Gráfica de Acción Histórica
De May 2023 a May 2024