(Alliance News) - Cooks Coffee Co Ltd on Monday reported a jump in sales during financial 2024, as it eyes future growth and a "strategic store expansion initiative".
In the financial year ended March 31, the Auckland, New Zealand-based coffee house chain said group sales jumped 18% to GBP27.9 million from GBP23.8 million a year earlier.
UK store sales were up 21%, whilst Ireland store sales rose 11%.
Cooks Coffee said that there were 77 sites open at the end of the financial year, up from 66 a year ago.
"The company has placed significant emphasis on enhancing sales within its current locations while concurrently pursuing a strategic store expansion initiative," it explained.
Looking ahead, the company noted a "strong pipeline" of new stores, with new stores with more than 10 outlets expected to open in the second quarter of 2024.
"We are delighted with the sales growth within our current coffee store locations and with the performance of the new stores," said Chief Executive Aiden Keegan.
"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."
Cooks Coffee plans on releasing financial 2024 results on May 31.
Shares in Cooks Coffee were flat at NZD0.27 in Wellington on Monday.
By Sophie Rose, Alliance News senior reporter
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