Cooks Coffee swings to net profit after revenue soars 27 per cent

exterior of esquires coffee shop
The company’s revenue soared 27 per cent to $2.74 million. (Source: Cooks Coffee Company)

Cooks Coffee Company swung to a net profit as revenue rose in the half year ended September 30.

The company’s net profit before tax stood at $530,000 while revenue soared 27 per cent to $2.74 million.

UK sales surged 36 per cent to $23.4 million as the development in suburban areas and smaller market towns gained further momentum. Ireland sales increased 6 per cent to $10.4 million.

The company ended September with 83 operational stores in the UK and Ireland.

Cooks Coffee noted that it aims to grow Esquires’ share of UK cafes to 0.5 per cent by 2029 from the current 0.3 per cent.

Meanwhile, Cooks Coffee’s store sales for the seven-week period to November 17 swelled 39.4 per cent in the UK and went up 17.9 per cent in Ireland.

“The group continues to open new stores in desirable locations which have all performed well to date,” said Aiden Keegan, Cooks Coffee CEO.

“The momentum experienced in the first half has continued and the group expects to deliver a robust set of numbers for the full year.”

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