Cooks Coffee Company has reported positive net profits of $0.34 million for the 12-month period ending 31 March 2022.
This reflects 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 cost reduction.
Store sales in the UK were 123% of pre-Covid FY2019 levels, while in Ireland, sales were 75%.
The company reduced debt by $3.3m, returned to a positive equity position of $3.1m, changed its name to Cooks Coffee Company and undertook a 15:1 share conversion.
The company is aiming for a potential dual public listing in the UK in the near future.
See more
