Cooks Coffee Company, the operator of Esquires, has reported group sales up 17.6% to £27.9m for the financial year ended 31 March 2024 (2022: £23.8m).
UK store sales were up 21.1% at £18.1m and Ireland store sales were up 11.3% at £9.6m.
There were 77 group sites in the UK and Ireland as at 31 March 2024, up from 66 as at 1 April 2023.
More than 10 outlets are expected to open in Q2 2024.
The company said it has placed significant emphasis on enhancing sales within its current locations while concurrently pursuing a strategic store expansion initiative.
During FY24, Cooks Coffee added 15 new stores in the UK and Ireland and closed four.
Like for like sales in UK for 2023 were up 6% and in Ireland up 6.8%. All sales figures and other metrics in this announcement exclude the discontinued Triple Two Coffee business.
The company said it is benefitting from positive operating cash flow, compared to an operating cash outflow in the same period last year.
Aiden Keegan, CEO of Cooks Coffee Company, said: “We are delighted with the sales growth within our current coffee store locations and with the performance of the new stores.
“FY24 has witnessed the company setting new records and this success reflects the dedication of our extended team of shareholders, directors, franchisees, regional developers, and company staff and most importantly the support from our valued customers. We remain committed to delivering great in-store experiences and setting new benchmarks in the months ahead through our dedicated team of local franchise store owners. We look forward to updating the market further in due course.”
