10th Apr 2025 11:11
(Alliance News) - Cooks Coffee Co Ltd on Thursday reported a double-digit growth in group store sales during its most recent financial year, boosted by a 35% rise in sales during its fourth quarter.
The Auckland, New Zealand-based company is a coffee cafe chain, which also owns the rights of Esquires Coffee.
The group said sales for its fourth quarter that ended March 31 totalled GBP9.5 million, up from GBP7.1 million the year before as a result of Cooks' "strong trading momentum".
Cooks' full-year store sales increased 26% to GBP35.1 million.
To repay or refinance all existing debt, the firm has also refinanced its group debt with the Bank of New Zealand, significantly reducing its ongoing finance costs and providing additional funding to support ongoing operations and strategic initiatives, according to the group.
Looking forward, Cooks is anticipating a strong pipeline of new stores in the UK alongside further locations being explored. The company currently has 89 sites as of the end of March, up from 75 store the previous year.
Chief Executive Officer Aidan Keegan said: "As a result of the anticipated growth in our estate, the group's healthy balance sheet and the strong trading momentum, we are confident about the future prospects of the group and view the future with optimism."
Cooks Coffee shares were last traded on April 1 at 8.50 pence in London on the Aquis Exchange.
By Olivia Mason-Myhill, Alliance News reporter
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