Quarterly Update

KEITH JACKSON
Executive Chairman

FIRST QUARTER 2019 OPERATING STATISTICS
NZAX & MEDIA RELEASE AUG 2018

Note 1: All references to sales and transaction values in this report are constant currency unless otherwise stated.
Cooks Global Foods (NZAX.CGF) today announces its Esquires Coffee store
network now extends to more than 100 stores. It also announces an accelera-
tion in growth across the network as store closures tail off in China and it
benefits from new café openings.
The growth, detailed in the latest quarterly growth statistics (below), follow
Cooks’ announcement last week of plans to significantly expand its global
footprint with its agreement to buy 100% of the shares on issue in Mojo Café
Cartel. Mojo owns a network of 36 cafes plus a roastery in Wellington and
Auckland, a café, pantry and roastery in Chicago, four licenced stores in Japan
and two in China.
COOKS PASSES
100-STORE MILESTONE
AS IT AGREES TO BUY
MOJO
As at the end of June 2018 Esquires had a total of 97 stores,
up from 93 the same time a year ago. However, since June
last year Esquires has opened stores in Ireland, the United
Kingdom and Bahrain, taking the total to 101 as of today.

For the three months to 30 June 2018, Esquires’ constant
currency network store sales
1
, a leading indicator of the
revenue Cooks expects to generate for new and refurbished
stores and recurring revenues, such as royalties, coffee
product and other retail sales, increased 6.9% to $11.4
million.
The increase over the $10.6 million in the same period a year
ago reflects the contribution from new stores in the United
Kingdom, Ireland and the Middle East offsetting closures of
poorer performing stores especially in China.
Network transactions at the end of the June quarter
increased 0.1% to 1.123 million from 1.122 million in the same
three-month period a year ago. Average transaction values
increased 6.7% to $10.11 from $9.47 at the same time a year
ago, reflecting an improving mix of new and refurbished
stores in the network.
Cooks Executive Chairman Keith Jackson said: “Cooks is
well positioned. The strong organic growth we are seeing in
the global Esquires network shows the development
programme undertaken over the last few years is delivering
results.
“And now the growth is expected to receive a boost with
the acquisition of Mojo. This acquisition not only gives
Cooks a strong brand presence in the New Zealand market,
it also gives us a beachhead into markets such as the US
and Japan, where we see strong potential for the New
Zealand café experience.
“Across the Esquires network we are particularly pleased
with the progress that has been made in China, where the
reorganisation of the store network to align it with the
strategy of our new joint venture in the region is
substantially complete. In the most recent quarter store
numbers increased for the first time in more than a year.
“The Chinese business is now operating as an associate
within the Cooks Group. We expect to complete remaining
formalities within this current financial year. Our local
Chinese partner is now driving the business with Cooks
holding an effective 21% stake.
“Meanwhile, growth in the UK continues apace, while new
territories such as mainland Europe and Pakistan are
contributing to our revenue and continue to demonstrate
the potential of the brand around the globe.”
Same store sales for the three months to 30 June 2018 fell
1.4% to $8.4 million from $8.5 million at the same time a
year ago. The fall largely reflected the reconfiguration of
the Chinese network. Same store transaction numbers fell
7.4% to 0.8 million from 0.9 million. However, average
transaction values increased 6.5% to $10.33 from $9.70,
reflecting an improvement in the product mix.

R E GIONA L PERFORMANCE
Manchester - UK
Beijing - CHINABucharest - ROMANIA
Limerick - IRELAND
The UK continues to deliver the standout performance of
the network with store sales increasing 22.1% to $4.8 million,
reflecting a net increase of seven new stores. In the last
three months the UK has added 2 additional stores
increasing the total number to 37.
Reflecting the growing contribution of new and refurbished
stores, average transaction values rose 10.3% to $9.26.
The UK business has successfully sold off the South East
Region of England as a separate regional franchise as part
of its strategy to accelerate growth in the country. It is
looking to do the same for other regions in the current
financial year.
The United Kingdom
Europe, which includes the stores in Portugal, Romania and
Ireland, saw a 5.2% increase in store sales to $3.5 million,
reflecting the contribution of a new store in Romania and
one in Ireland. Average transaction values rose 2.5% to
$12.18
The Irish stores continue to be the strongest in the global
network, with several recently breaking new records in
average weekly sales.
Europe
The Asian business, which includes the stores in China as
well as those in Indonesia and Pakistan saw store sales fall
20% to $923,020, largely due to the ongoing reorganisation
in China, where the company closed a net six stores
compared to the same period a year ago.
In the first quarter of the current financial year, the Chinese
business opened a new store and did not close any of the
existing stores.
Reflecting the region’s unique needs and domestic tastes, it
has launched a new execution of the Esquires brand, with
the first store under the new livery opening in Beijing's
landmark shopping complex The Place.
The new ESQ brand is easier for Chinese consumers to
pronounce and is therefore more memorable. It retains the
focus on lifestyle and specialty coffee expertise. It also taps
into the brand's New Zealand and international heritage.
Cooks will work closely with its Chinese partners to ensure
the brand's New Zealand authenticity and to assist with the
business’ expansion.
Asia
The Middle East business saw total store sales rise 3.2% to
$2.0 million as the region benefitted from the net addition
of one store. Average transaction values were up 6.5%
reflecting an improvement in the store mix with new and
refurbished stores making a greater contribution.
Cooks is working to lift growth in the region with the recent
addition of new operational resource. However, the planned
formation of a joint venture in the Middle East with Saudi
Arabia’s Anasia Foods has been delayed due to legal
complexities associated with the planned structure, and the
impact of the recent downturn in the Saudi Arabian
economy.
These developments have necessitated a renegotiation of
the venture’s terms. With Cooks current focus on the Mojo
transaction, Cooks and Anasia Foods have agreed to revisit
the venture at a later date.
The Middle East

ESQUIRES COFFEE OPERATING METRICS
TOTAL NETWORK
3 MONTHS TO 30 JUNE
SAME STORE
2018
2018
2017
2017
Esquires Coffee Stor e sales
Esquires Coffee Stor e sales
Transactions
Transactions
Aver age transaction value
Aver age transaction value
VARIANCE
VARIANCE
NZ$11,358,247
1,123,349
NZ$10.11
NZ$10,630,070
1,122,230
NZ$9.47
6.9%
0.1%
6.7%
NZ$8,404,879
813,621
NZ$10.33
NZ$8,521,495
878,632
NZ$9.70
-1.4%
-7.4%
6.5%
STORE NUMBERS
31 MAR
3 MONTH STORE NUMBERS
30 JUN30 JUN
UK
TOTAL
Asia
Middle East
Canada
Europe
2018OPENEDCLOSED20172018
351
934
181
250
20
132
0
0
0
0
0
0
36
97
19
25
2
15
29
93
25
24
4
11
APPENDIX
The following are Non-GAAP reporting metrics which are used in this update:
Network (Store) Sales:
Total store sales are the aggregate of sales of all Esquires branded coffee stores, whether franchised or owned, across the company’s global brand network. Cooks derives
income from its franchised stores from franchise related fees, primarily related to these sales levels as well as store sales for those stores directly owned by the company. Total
network store sales, therefore, have a correlation to the portion of revenue earned by Cooks Global Foods relating to recurring franchise fees. However, they are not and
should not be confused with the revenue of Cooks Global Foods which is reported in its financial statements as the two do not directly correlate.
Same Store Sales:
Same store sales are the aggregate of all Esquires-branded coffee stores, whether franchised or owned across the company’s global brand network that have been operational
for at least a full two-year period for the purposes of like-for-like comparison between current and prior periods. The metric measures the improvement in existing store sales
within the brand network, excluding new stores opened in the previous 24 months. Same store sales are not the same as revenue in the financial statements for Cooks Global
Foods group but can indicate stable revenue growth in the brand network.
Transactions
Transactions relate to the total individual transactions, which occur within Esquires branded coffee stores, whether franchised or owned. A transaction is defined as a single
financial transaction for food, beverage or product that is processed through the point-of-sale system within a coffee store.
Average Transaction Value
Average transaction values are derived by dividing total Esquires coffee store sales by total transactions recorded over the period.
Total (Store) network
All stores whether owned (in full or as part of an associate, such as in the case of the China business) or franchised, which operate under a brand owned by companies within
the Cooks Global Foods Group.

FOR FURTHER INFORMATION
ABOUT COOKS GLOBAL FOODS
INVESTORSMEDIA
+64 9 304 0567 ext. 714+64 21 645 643
Executive Chairman
The Project
KEITH JACKSON RICHARD INDER
Cooks Global Foods operates in world markets and is listed on the NZAX market operated by NZX
Limited in New Zealand under the code CGF. It owns the intellectual property and master
franchising rights to Esquires Coffee Houses worldwide excluding New Zealand and Australia.
Cooks currently operates or franchises Esquires Coffee in Canada, the United Kingdom, Ireland,
Bahrain, Kuwait, Saudi Arabia, UAE, Indonesia, Portugal, Romania, Pakistan, Jordan, and China. It
also owns Scarborough Fair tea, and Grounded Coffee.
For more information visit: www.cooksglobalfoods.com