2021 Interim Report
CHAIRMAN’S REPORT
Financial result for the six months ended 30th September 2021 (1H 2021) (Unaudited)
Directors are delighted to report that Cooks Global Foods Limited (CGF) has earned an Operating Profit of $626,000 from Continuing Operations for the 6 months ended 30th September 2021. This result is especially pleasing given the fact that Covid-19 restrictions were in place in the core markets of UK & Ireland for much of the period.
Revenue growth reflects the first stages of the recovery from the impact of Covid-19 as CGF’s core markets recover and include the benefits of Triple Two acquisition for the full six months. The company added a net 11 outlets to the franchised network during the 6-month period. This included 14 openings and three planned closures.
The revenue amount includes one off fees from newly opened stores including for design, property search, project management and fees earned from a company owned entity that provides contracting and store fit out services. Revenue is also earned from recurring revenue streams such as royalties and supplier incentives. Revenue for 1H 2021 includes $337,000 of Covid-19 subsidies.