Cooks Coffee Company (CCC) H1 2025 earnings summary

Executive summary

• Achieved a return to profitability with net profit before tax of NZ$0.53m, reversing a loss of NZ$0.32m in the prior year period.

• Group revenues rose 27% year-over-year to NZ$2.74m, driven by strong UK and Ireland store sales and new store openings.

• EBITDA reached NZ$0.826m, compared to a loss of NZ$0.011m last year, reflecting operational improvements and cost control.

• Store network expanded to 83 in UK & Ireland, up from 75 at March 2024, with further growth planned.

• Positive trading momentum continued post-period, with UK store sales up 39.4% and Ireland up 17.9% in the seven weeks to 17 November.

Financial highlights

• Group revenue increased 27% to NZ$2.74m for the six months ended 30 September 2024.

• EBITDA improved to NZ$0.826m from a loss of NZ$0.011m year-over-year.

• Net profit before tax was NZ$0.53m, compared to a loss of NZ$0.32m in the prior year.

• Basic and diluted EPS from continuing operations was 0.87 NZ cents, up from (0.54) NZ cents.

• Net tangible assets per share improved to (9.02) NZ cents from (11.39) NZ cents at March 2024.

Outlook and guidance

• Directors expect second half profit to be broadly similar to the first half, with continued positive trading momentum.

• Pipeline of new stores in UK & Ireland expected to bring total to around 90 by March 2025 and over 100 during 2025.

• Targeting 300 stores in UK & Ireland within 10 years, leveraging scalable, capital-light franchise model.

• Confident in ability to meet cash commitments and continue growth, supported by shareholder and related party funding.