2022 Preliminary Report
Cooks re-building with positive recovery from Covid-19
SUMMARY
• Cooks Coffee Company reports net profit before tax from both continuing and discontinued operations was $0.34 million which compared to the prior period loss of $2.62m. The results reflect the recovery of café sales particularly in the UK, the full year contribution of the Triple Two acquisition and the benefits of prior restructuring and reduction of costs.
• The recovery in café sales in the UK where government restrictions on trading were relaxed from mid-July 2021 was positive with store sales in FY22 being 123% of the pre covid FY2019 year.
• In Ireland where the government restrictions did not relax until February 2022 the store sales were 75% of FY2019 figures. Store sales for Q4 (January – March) in Ireland were 97% of FY2019 equivalent. The trend points to sales recovering above pre covid levels providing that restrictions remain lifted.