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

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