Trading Update – COVID-19

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NZX RELEASE 18 March 2020
Trading Update – COVID-19
Cooks Global Foods Limited (CGF) has been closely monitoring the impact of the COVID-19
outbreak, particularly on its Esquires café operations in Ireland and the United Kingdom - our
two largest business units in revenue terms. The core focus of the CGF Board is to protect
our people and customers and take all reasonable steps to mitigate adverse impacts on our
business.
As has been reported in the media, the Irish Government has issued a directive to close a
range of hospitality establishments for two weeks in an effort to reduce the spread of COVID-
19. This directive does not include the closure of cafes however 12 franchised cafes in Ireland
are closed at present as a voluntary action. We are working to support our franchisees but will
experience a drop in revenue from Ireland which, is principally derived from sales based
royalties.
In the United Kingdom our 40 franchised & 4 company operated stores remain open. Over the
past week we have seen a reduction in same store sales of approximately 14% decrease
compared to the same week last year. Total store sales for the UK were up over 6% for the
same week after adding sales from stores opened in the last 12 months. There’s obvious
uncertainty as to how long this trading environment will continue and whether operations will
be further affected by regulatory action or changes in consumer behaviour.
We will continue to monitor the situation and report any material developments to the market.
Contact:
Keith Jackson
Executive Chairman
Tel: +64 9 304 0567 ext. 714.
Email: keith.jackson@cooksglobalfoods.com

About Cooks Global Foods
CGF operates in world markets and is listed on the NZX 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). CGF
currently operates or franchises Esquires Coffee outlets in the United Kingdom, Ireland,
Portugal, Bahrain, Kuwait, Syria, Saudi Arabia, Jordan, Pakistan, Indonesia, Canada and
China. It owns the intellectual property for Grounded Responsible Coffee, Blended Freeze-
Dried Coffee & Scarborough Fair teas. For more information visit:
https://www.cooksglobalfoods.com/