Cooks doubles 1H loss, seeks equity to fund Chinese growth

Fri, 09 Dec 2016

By Sophie Boot Dec. 9 (BusinessDesk) - Cooks Global Foods, which owns the master franchise rights for the Esquires Coffee chain outside New Zealand and Australia, doubled its first-half loss and says it's in negotiations with its Chinese shareholders about raising equity to fund growth. Net loss widened to $3.8 million, or 92 cents per share, in the six months to Sept. 30, from $1.6 million, or 46 cents per share, a year earlier, the NZAX-listed company said. Revenue rose 16.4 percent to $5.3 million, driven by growth from Chinese franchi...

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