Aquis Exchange and New Zealand Stock Exchange listed coffee seller Cooks Coffee Company (NZX: CCC; AQUIS: COOK) has announced an update on the systemwide performance of its Esquires (The Organic Coffee Company) branded franchised stores in the UK and Ireland during the six months ended 30th September 2026.
The Business
Cooks Coffee describes itself as “building an ethical café group with great cafes owned and run by local people”. Flagship brand Esquires Coffee was founded in 1993 and Cooks acquired the global rights (excluding Australia and New Zealand), focusing on operations in the UK and Ireland in 2013. The company operates a franchise model which promotes ethical commitment, individual entrepreneurship and local community engagement. Revenue is mainly earned from franchise rights and royalty arrangements, along with revenue from franchisees in the establishment of their stores.
Cooks currently has over 100 outlets spread across nine international markets, including a handful of company managed stores outside the franchise model. The firm’s last annual report said that the firm was aiming to hit 300 stores in the UK & Ireland by FY2034.
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Trading update
Group systemwide store sales in the key UK and Ireland markets increased by 14.3% in H1 2027. UK systemwide store sales were up by 15.5%, with like-for-like sales up 1.3%. In Ireland, systemwide store sales increased by 11.6%, with like-for-like sales up 3.4%. On a rolling 12 month basis, group systemwide store sales increased by a slightly stronger 16.5%, with UK sales up 16.6% and Ireland sales up 16.3%.
Growth during the period is said to have been helped by both higher customer numbers and higher average transaction values. Alongside this, new store openings made a significant contribution, with stores opened in the last 12 months contributing 18% of UK sales and 14% of Ireland sales. As at 30th September, the store network reached 128 locations, with 89 in the UK, 29 in Ireland and 10 in other international markets.
Further expansion is planned, with the company’s first stores in India and the UAE under construction and expected to open before the end of the financial year. Management and regional development capabilities have been strengthened, with senior appointments across marketing and operations, and a new Regional Developer appointed for Southwest England and South Wales.
The company commented that it is encouraged by the H1 performance, with growth across both core markets supported by positive like-for-like trading and continued store development. It added that, with further store openings planned and additional resources in place, it is confident in its prospects for the remainder of the financial year.
Cooks Coffee Company share price chart since IPO
Comment
For the 26 weeks to 28th September 2025, Cooks reported systemwide store sales in the UK and Ireland up by 26.9%, with like-for-like sales growth of 3.5% in the UK and 6.4% in Ireland. This year’s equivalent numbers show a marked slowdown in systemwide store sales, albeit against a higher comparative, but also a slowdown in the like-for-like figures. In the upcoming interim results investors will be looking to see if the recent management hires have had any effect on the figures.
The financial position is also of concern given that the last set of full year accounts contained a statement from the company’s accountants that a material uncertainty exists that may cast significant doubt on the group’s ability to continue as a going concern, given that the group reported net liabilities of NZ$1,897,000 as at 31st March 2026. In reaction, the directors said that they have reasonable expectation that the group has sufficient headroom in its cash resources to allow it to continue to operate for the foreseeable future or alternatively it can manage its working capital requirements to create additional required headroom.
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Disclosures
Cooks Coffee Company is not a corporate client of Optimo Research Ltd.
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