Cooks Coffee has reported ‘better-than-expected’ results across the UK and Ireland, driven by store openings and positive performance at its Esquires Coffee brand.
For the nine months ended December last year, Esquires Coffee UK recorded sales of $49.4 million, up 28.6 per cent. In Ireland, total system sales rose 27.7 per cent to $9.9 million.
The momentum continued into the fourth quarter, with UK sales increasing 18.3 per cent and Ireland’s jumping to 26.8 per cent over the same period.
According to Allegra World Coffee Portal, the UK branded coffee shop market recorded outlet growth of 3.5 per cent and sales value growth of 5.5 per cent last year.
Cooks Coffee said Esquires Coffee continued to outperform the broader market, with total store sales reaching $64.6 million in the UK and $28.9 million in Ireland last year.
The UK network opened 18 new stores and closed seven, while Ireland added four new locations with no closures.
Most recently, the company signed a 10-year master franchise agreement in the UAE, with plans to open at least 50 Esquires Coffee outlets.
Executive chairman Keith Jackson said the group is encouraged by the brand’s trading momentum and the strength of the Esquires Coffee brand.
“Against a challenging consumer backdrop, the business has continued to grow, expand the store network and outperform the wider market,” Jackson said.
“We remain focused on disciplined expansion and supporting our franchisees as we continue to build the Esquires Coffee brand internationally.”
