Cooks Global Foods looking at China JV, may generate positive cash flow in FY18

Thu, 13 Apr 2017

By Rebecca Howard April 13 (BusinessDesk) - Cooks Global Foods said advanced talks to establish a new joint venture with Chinese partners and the sale of its Progressive Processors unit mean it may transition to cashflow breakeven in the 2018 financial year although both initiatives will likely mean a non-cash write down of $4 million in the year that ended March 31, 2017. The initiatives "have the potential to significantly accelerate the growth of the coffee operations whilst reducing the demands on Cooks’ financial resources and allow...

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