Cooks widens loss, revenue falls in 2016 ahead of Chinese JV, capital raising

By Sophie Boot
June 15 (BusinessDesk) - Cooks Global Foods, which owns the master franchise rights for the Esquires Coffee chain outside of New Zealand and Australia, posted a wider net loss and lower revenue in 2016 as it wrote down the value of its Chinese assets.
Sales fell 13.2 percent to $5.3 million in the year to March 31, 2017, while the net loss grew to $12.2 million from $7.9 million a year earlier. Most of the revenue decline was due to negative currency conversions from its operations in the UK and Ireland as their currencies...
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