Photo from Esquires Coffee's Facebook page.
Cooks Coffee records a net profit of £259.1k in H1 2024
The group’s revenue increased by 27% to £1.3m.
Cooks Coffee Company, operator of the Esquires coffee brand, recorded a net profit attributable to shareholders of £259.13k (NZ$557k) for the six months ended 30 September 2024.
The group’s net profit before tax was £248.4k (NZ$534k) compared to a loss of £148.4k (NZ$319k) last year.
Moreover, the group’s revenue increased by 27% to £1.3m (NZ$2.74m) from £1m (NZ$2.16m) in 2023.
UK store numbers were 68 at the end of September 2024, up from 60 as of 31 March. Sales from the Esquires outlets for the six months were up 36% compared to the same period in FY 2024.
Meanwhile, total sales in Ireland increased by 6% to £4.8m (NZ$10.4m), whilst its like-for-like sales were up by 2.9%.
The overall store sales for the UK & Ireland increased by 26% to £15.7m (NZ$33.8m).
“The target of having 300 stores in the UK and Ireland within 10 years remains, and the solid base being established in these core markets will enable expansion in other attractive markets and provide the base for potential value-enhancing opportunities that will add to shareholder value,” said Keith Jackson, executive chairman of Cooks Coffee.
“The company expects that we will continue to grow the number of Esquires outlets operating in the UK & Ireland by the end of March 2025, and we expect to have more than 100 stores operating during 2025,” he added.
(£1 = NZ$2.15)
