Quarterly Update

KEITH JACKSON
Executive Chairman
01
FOURTH QUARTER 2019 OPERATING STATISTICS NZAX & MEDIA RELEASE MAY 2019
Esquires IRELAND
Clonmel (Rebranded)
Esquires CHINA
Health Center, Beijing
Network store sales for the three months to 31 March
2019 grew 15.4% to $12.3 million from $10.6 million in the
same period a year ago. Coffee outlet numbers have
risen to 118 from 93 at the same time a year ago and 104
at the end of December 2018.
Transaction volumes across the global Esquires network
rose 10.3% to 1.2 million in the three-month period and
transaction values increased 4.6% to $10.61.
Total same-store sales for the three-month period are
up just over 4.8% to $9.7 million from $9.2 million at the
same time a year ago.
Cooks Executive Chairman Keith Jackson said:
Cooks has ended the 2019 financial year on a
positive note, achieving continued strong growth across
the global store network with new store openings a
resilient performance from the existing store network,
and core regions of England & Ireland continuing their
strong growth trends.
“Growth in store numbers has been led by China, which
over the last quarter has begun to implement its new
strategy combining traditional store outlets with smaller
‘express’ outlets in shopping malls, supermarkets and
Cooks Global Foods (NZAX.CGF) today reports its Esquires Coffee
business has rounded out the year with steady sales growth across the
global network and the China business starting to roll out its new strategy
that sees the introduction of ‘express’ takeaway outlets into the store mix.
COOKS COFFEE STORE SALES UP 15% AS
NETWORK GROWTH CONTINUES
1
All references to sales and transaction values are constant currency. This means prior year figures are converted at the same exchange rate as the current year to eliminate the effects of foreign exchange rate fluctuations.
in business environments. Over the last quarter it has
installed 21 express outlets and it is looking to accelerate
that rate of growth in the coming year.
“The Chinese business is starting to execute on the
strategy that includes self-service machine outlets as well
as staffed take-away only stores into the mix of outlets
under the new ESQ brand in that country.

“The express stores take advantage of the significant
advances in bean-to-cup machines, which now have
the potential to deliver a consistent coffee experience in
each cup. We believe the strategy has the potential to
generate considerable value for shareholders.
“Indeed, this a view that has been supported by the
recent independent valuation of Cooks’ stake in the
Chinese business at $5.6 million to $6.8 million.”
Earlier this year, following discussions with the FMA,
Cooks engaged corporate advisory firm Censere to
value the Chinese business so Cooks could verify the
$3.08 million carrying value of it 21% share. The resulting
valuation of the stake is well above the carrying value in
Cooks 2018 annual accounts.”

02
THIRD QUARTER 2019 OPERATING STATISTICS NZAX & MEDIA RELEASE FEB 2019
Cook’s New Zealand retail business unit Scarborough
Fair Limited continues to perform strongly driven by
growth of Grounded Responsible Coffee, the launch of
new ‘Blended’ freeze-dried coffee and the expansion of
distribution.
The Grounded range was extended to 11 products in
late 2018, and since then the brand has had significant
distribution gains across grocery, office and specialty
channels. This programme has been well received by the
trade and consumers, and Grounded sales were up 87.4%
last six months against the previous six-month period.
Store numbers in the UK rose to 41 from 35 at the same
time a year ago and up one from the 40 stores open at
the end of December 2018. The latest outlet was opened
in late March 2019 in Leicester and is performing very
well in its early trading.
Total sales for the three-month period rose 15.1% to
$5.1 million, representing just under 42% of the store
network’s total sales. Same store sales in the UK for the
three-month period were up 1.0% to $3.4 million.
UK GROWTH CONTINUES
The Asian business has seen a surge in store numbers
as the Chinese business began to accelerate the
implementation of its new strategy. Store numbers in the
region – including the express-outlets rose to 34 from 18
at the same time a year ago and 21 stores at the end of
December 2018.
In the three-month period to the end of March 2019 the
Chinese business opened 21 outlets, all of which were the
new style ‘express’ outlets. China also closed a further 8
stores as the joint venture closed the stores that would
not reach a level of earnings that justified their continued
operation.
Elsewhere in the Asian region the Pakistan business
opened another store in late March, in Dolmen Mall,
the premier mall in Karachi, both stores in Karachi are
performing strongly. Indonesia closed one store as the
Mall in which it was located did not reach the planned
level of occupancy.
Sales in the Asian region rose 11.7% to $0.9 million
compared to the same three-month period a year ago
Same store sales in Asia rose by 2.8%.
CHINA GROWING
RETAIL BRANDS
For more information, please visit: www.groundedcoffee.co.nz
For more information please visit www.blended.net.nz
Blended freeze-dried coffee was launched recently with
a successful PR campaign gaining good exposure for
the new brand. Blended launched initially with home
compostable 90g retail packs, and is now set to launch
a 450g tin, targeted to the office market. The Blended
brand also carries the Buy One, Plant One commitment.
April saw the launch of our on-line shop under the name
Grounded & Co (groundedandco.shop). On-line shoppers
can now purchase the entire range of Grounded, Blended
and Scarborough Fair products and have them delivered
directly to their door.
IRELAND LEADS GLOBAL PERFORMANCE
Sales in the Republic of Ireland rose 29.2% for the quarter
and same store sales were 12.7% up on the same quarter
a year ago. The Irish business which has 14 stores saw
transaction volumes up 22.3% and average transaction
values up 5.6% to NZ$13.13 in the quarter. Same store
transaction volumes rose 6.8% and average transaction
values rose 5.5%.
MIDDLE EAST RESILIENT
The Middle East business turned in a resilient performance.
Store numbers were down one store on the same period
a year ago at 24 outlets, but unchanged on the prior
three-month period. Store sales were down slightly at
$2.1 million. Same store sales in the three-month period
were flat at $1.8 million reflecting steady transaction
volumes and values.
Esquires PAKISTAN
Dolmen, Karachi
Esquires UK
Leicester, England
For more information, please visit: www.groundedandco.shop

03
THIRD QUARTER 2019 OPERATING STATISTICS NZAX & MEDIA RELEASE FEB 2019
ESQUIRES COFFEE OPERATING METRICS
3 MONTHS TO 31 MARCH 2019
12 MONTHS TO 31 MARCH 2019
TOTAL NETWORK
TOTAL NETWORK
SAME STORE
SAME STORE
STORE NUMBERS
THIRD QUARTER STORE CHANGES
Esquires Coffee Store sales
Transactions
Average transaction value
Esquires Coffee Store sales
Transactions
Average transaction value
Esquires Coffee Store sales
Transactions
Average transaction value
UK
Canada
Asia
Europe
Middle East
TOTAL
40
2
21
17
24
104
1
0
21
0
0
22
0
0
8
0
1
9
41
2
34
17
23
117
35
2
18
14
25
93
Esquires Coffee Store sales
Transactions
Average transaction value
2018
2018
2018
2018
NZ$10,642,900
1,049,646
NZ$10.14
NZ$9,222,666
918,860
NZ$10.00
NZ$39,680,969
3,558,325
NZ$11.15
NZ$44,485,097
4,446,587
NZ$9.99
2019
2019
2019
2019
NZ$ 12,283,839
1,158,267
NZ$10.61
NZ$9,663,556
919,776
NZ$10.58
NZ$ 40,020,966
3,806,872
NZ$10.51
NZ$49,328,111
4,662,293
NZ$10.54
VARIANCE
VARIANCE
VARIANCE
VARIANCE
15.4%
10.3%
4.6%
4.8%
0.1%
4.7%
0.9%
7.0 %
-5.7%
10.9%
4..9%
5.4%
DEC
2018
MAR
2019
MAR
2018
OPENEDCLOSED

THIRD QUARTER 2019 OPERATING STATISTICS NZAX & MEDIA RELEASE FEB 2019
04
ABOUT COOKS GLOBAL FOODS
FOR FURTHER INFORMATION
APPENDIX
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,
Romania, Portugal, Bahrain, Kuwait, Saudi Arabia, Jordan, Pakistan, Indonesia, and China. It owns the
intellectual property for Grounded Responsible Coffee, Blended Freeze Dried Coffee & Scarborough
Fair teas.
For more information visit: www.cooksglobalfoods.com
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 partially/fully 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, except in China.
Total network store sales, therefore, have a correlation to the portion of revenue earned by Cooks Global Foods relating to recurring franchise fees. Chinese sales are also indicative of the potential value residing in the Chinese venture. However, total
network sales 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.
INVESTORS
KEITH JACKSON
Executive Chairman
MEDIA
RICHARD INDER
The Project
+64 9 304 0567 ext. 714+64 21 645 643