Full year results to 31 March 2026

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Results announcement
(for Equity Security issuer/Equity and Debt Security issuer)
Updated as at March 2026

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Results for announcement to the market
Name of issuer COOKS COFFEE COMPANY LIMITED
Reporting Period 12 MONTHS TO MARCH 2026
Previous Reporting Period 12 MONTHS TO MARCH 2025
Currency NZ$
Amount (000s) Percentage change
Revenue from continuing
operations
$12,358 83%
Total Revenue $12,358 83%
Net profit/(loss) from continuing
operations
$315 n/a
Total net profit/(loss) $315 n/a
Interim/Final Dividend
Amount per Quoted Equity
Security
It is not proposed to pay a final dividend
Imputed amount per Quoted
Equity Security
N/A
Record Date N/A
Dividend Payment Date N/A
Current period Prior comparable period
Net tangible assets per Quoted
Equity Security (in dollars and
cents per security)
$0.0763 $0.0868
A brief explanation of any of the
figures above necessary to
enable the figures to be
understood
Refer commentary accompanying this form
Authority for this announcement
Name of person

authorised to
make this announcement
Keith Jackson
Contact person for this
announcement
Keith Jackson
Contact phone number 021 702 509
Contact email address Keith.jackson@cookscoffeecompany.com
Date of release through MAP

28
th
May 2026

Unaudited financial statements accompany this announcement.

---

28 May 2026

Cooks Coffee Company Limited

Preliminary results for the year ended 31 March 2026

COOKS COFFEE ESQUIRES BRAND STORE SALES UP 22.8%
NORMALISED EBITDA UP 27%.

Cooks Coffee Company Limited (NZX:CCC; AQUIS:COOK), the international coffee focused café
chain, announces the publication of its unaudited group financial results for the year ended 31 March
2026.

Financial Highlights

Sales up 22.8%. Total Group sites (Esquire branded) increased by 18%

•
Full year Group store sales of NZ$95.8m in the UK & Ireland, up 22.8% (FY25: NZ$78.0m)
•
EBITDA increased to NZ$1.3m (FY25: NZ$1.21m) . Normalised EBITDA on continuing business
NZ$1.69m up 27%.
•
Revenue increased 84% to NZ$12.4m (FY25: NZ$6.7m)
•
Revenue excluding Dairygold sales increased 22.4% to NZ$5.7m
•
Dairygold managed stores contributed NZ$5.3m of sales (FY25: NZ$1.0m)
•
Debt reduced from NZ$4.2m to NZ$2.5m
•
Debt to total assets reduced from 11.5% to 7.4%
•
Total Group sites increased to 105 across the UK and Ireland, up 18% from 89 sites at 1 April
2025

Operational Highlights

United Kingdom
•
UK store numbers increased to 82 stores at 31 March 2026
•
21 new stores opened during the year, with 9 closures
•
Like-for-like sales increased 1.8%
•
Average store sales increased 4.9% to NZ$848,850 (£381,983)
•
Southeast England delivered particularly strong performance, with Regional Developer-led store
sales growth of 39%

Ireland

Winner of two awards at Irish Franchise Association Awards Franchisee of the Year (Food and
Beverage and Franchisor of the Year (Food and Non-Food)

•
Continuing store sales increased 29% to NZ$30.5m
•
Irish outlet numbers increased 35% to 23
•
Like-for-like store sales increased 4.9%
•
Franchise stores represented 80% of total Irish sales


Tesco Ireland Partnership
During the year, the Group formed a new partnership with Tesco Ireland, with Esquires now operating
five stores within Tesco outlets at Tullamore, Clonmel (Powerstown), Youghal, Waterford and Wexford.

Dairygold Managed Stores
The four Dairygold company-managed stores generated NZ$5.3m in sales during FY26 and contributed
17.6% of total systemwide store sales for the year. Operating profit from the Dairygold stores before
depreciation and IFRS related finance costs increased to NZ$138,000 compared with NZ$24,000 in
FY25.

International Expansion
International systemwide sales reached NZ$9.4m across four countries.

During FY26:
•
One new store was opened in Karachi, Pakistan
•
A Master Franchise Agreement was signed to enter the Indian market
•
A further Master Franchise Agreement was signed to enter the UAE market

These developments represent significant future potential in rapidly growing markets.

Outlook
The FY27 financial year has begun strongly with two new stores opened in the UK and two in Ireland.
And two new stores being committed in the new international markets.

The Board remains encouraged by the Group's trading momentum, the resilience of the Esquires Coffee
brand and the continued demand from franchise partners across both the UK and Ireland. The Company
continues to focus on disciplined network expansion, supporting franchisee profitability and
performance and maintaining strong brand standards and differentiated food and beverages offerings.


Keith Jackson Executive Chairman of Cooks Coffee, said: “Growth for the Esquires brand continues
to significantly exceed reported industry growth in both core markets and the Board would like to
acknowledge the dedicated performances of all the parties involved in the Group’s activities driving the
growth plans and delivering excellent service to our customers every day. The expansion strategy
demonstrates the Company’s resilience and ability to attract and retain customers in both established
and new locations. The positive earnings momentum in the continuing business resulting from the
growth is forecast to continue to build as the network builds”


Enquiries:

Keith Jackson
+64 21 702 509 (New Zealand)
keith.jackson@cookscoffeecompany.com

Angela Griffen
+64 27 578 0889
angela@angelagriffen.com

---

28 May 2026
Cooks Coffee Company Limited
This document covers Cooks Coffee Company Limited's unaudited financial results for the year
ended 31 March 2026
A: Cooks Coffee Company Limited
Preliminary announcement for the year ended 31 March 2026
in accordance with Listing Rule 3.5.1 are recorded below.
This report has been prepared in a manner which complies with generally accepted accounting practice and gives a true and
fair view of the matters to which the report relates, and is based on unaudited financial statements.
The Listed Issuer has a formally constituted Audit & Risk Committee of the Board of Directors.
UnauditedUnaudited
B: Consolidated Statement of Financial PerformanceMar-26Up / DownMar-25
$NZ '000%$NZ '000
Revenue12,35883.7%6,728
Cost of sales(1,690)336.7%(387)
Gross profit10,66868.2%6,341
Operating expenses and staff costs(9,283)76.4%(5,268)
Impairment loss on receivables
(389)
266.3%(106)
Other income30521.5%251
Earnings before interest, tax, depreciation and amortisation
1,301
5.9%
1,218
Depreciation expense (466)298.6%(117)
Interest Income on leases1,7266.3%1,624
Amortisation of intangible assets--
Impairment of Goodwill--
Finance costs on leases(1,972)15.9%(1,702)
Finance costs on loans(277)(31.4%)(386)
Share of profit/loss of joint ventures accounted for using the equity method3(98.4%)
176
Profit/(Loss) before income tax315(61.3%)813
Income tax benefit/(expense)-0.0%
-
Net Profit/(Loss) for the year from continuing operations315(61.3%)813
Net Profit/(Loss) for the year from discontinued operations--
Net Profit/(Loss) for the year315(61.3%)813
Earnings Per Share (Cents per share):0.481.33
Preliminary unaudited full year report on consolidated results (including the results for the previous corresponding year)
The accounting policies used in the preparation of these financial statements are consistent with those used in the interim statements for the six
months ended 30 September 2025, and in the audited financial statements for the year ended 31 March 2025.

UnauditedUnaudited
C: Consolidated Statement of Financial PositionMar-26Up / DownMar-25
$NZ '000%$NZ '000
Assets
Cash and cash equivalents1,1232,686
Trade and other receivables2,2841,604
Other current assets413696
Assets classified as held-for-sale-
-
Property, plant and equipment 967415
Right-of-use assets2,369
2,449
Lease receivables25,14825,696
Other non-current assets3128
Total tangible assets32,335(3.7%)33,574
Goodwill0
-
Intangible assets2,8382,831
Total assets35,173(3.4%)36,405
Liabilities
Trade and other payables6,6006,146
Lease liabilities27,68628,307
Borrowings - Loans2,8604,336
Other liabilities250507
Deferred tax liabilities-
-
Total liabilities37,3964.8%39,296
Net assets/(liabilities)(2,223)23.2%(2,891)
Equity
Share capital59,60659,374
Accumulated losses(63,786)(64,101)
Foreign currency translation reserve1,9571,836
Share based equity reserve0
-
Total equity attributable to equity holders of the Company(2,223)23.1%(2,891)
CentsCents
Net tangible assets per share(7.62)(8.87)
Unaudited
Unaudited
D: Statement of Changes in EquityMar-26Up / DownMar-25
$NZ '000%$NZ '000
Profit/(Loss) for the period315(61.3%)813
Net increase in issued share capital232529
Foreign currency translation reserve121(232)
Movements in equity for the period668(39.8%)1,110
Equity at start of the period(2,891)(4,001)
Share based payment reserve
--
Equity at end of the period(2,223)(23.1%)(2,891)

Unaudited
Unaudited
E: Consolidated Statement of Cash FlowsMar-26Up / DownMar-25
$NZ '000%$NZ '000
Profit/(Loss) for the period31563.3%859
Add/(Less):
Depreciation expense466117
Impairment loss on receivables389
106
Net foreign exchange (losses)/gains(6)
14
Revaluation of contingent consideration payable
--
Impairment of goodwill
--
Amortisation of intangible assets
--
Net movements in working capital(669)(674)
Loss on disposal of subsidiaries0
-
Net cash flow from operating activities49617.4%422
Net cash flow from investing activities (935)(112.6%)(440)
Net cash flow from financing activities (1,244)(170.6%)1,762
Net (decrease)/increase in cash held(1,684)(196.5%)1,745
Opening bank balance2,6861,174
Effect of exchange rate changes on foreign currency balances
121(233)
Closing bank balance1,1232,686
Made up as follows:
Cash and cash equivalents1,123(58.2%)2,686
0
F: Material Acquisition of SubsidiariesN/A
G: Material Disposal of Subsidiaries
N/A
H: Material Investment in AssociateN/A
I:Issued and Quoted Securities at End of Current Period
Category of Securities IssuedNumberQuoted
ORDINARY SHARES:
Total number of shares on issue66,377,342 64,238,670
Shares issued during the current period 1,680,672 4,736,222
Shares converted from non-voting to voting during the current period458,000 707,000
Shares cancelled during the current period- -
Shares bought back during the current period- -
On 31 March 2026, Cooks Coffee Company Limited has 66,377,342 quoted shares and 42,000
non-voting shares on issue.

J:Comments by Directors
(a)Material factors affecting the revenues and expenses of the group for the current full year or half year
Refer to Commentary.
(b)Significant trends or events since the end of the current full year or half year
Refer to Commentary.
(c)Changes in accounting policies since last Annual Report and/or last Half Yearly to be disclosed:
Nil
(d)Critical Accounting Policies - Management believes the following to be critical accounting policies. That is they are both important
to the portrayal of the Issuer's financial condition and results, as they require management to make judgments and estimates
about matters that they are inherently uncertain
• Treatment of Leases
• Revenue from Contracts with Customers
• Discontinued Operations
• Impairment of Assets
• Amortisation of Intangibles and Goodwill
• Contingent Consideration
NZ IFRS 16 "Leases"
a) As a lessee
b) As a lessor
NZ IFRS 15 "Revenue from Contracts with Customers"
The transaction price includes a variable price consideration for the possible transfer of franchise rights. This is unknown until and if
the transaction is completed. Given the high uncertainty of this transfer, the transaction price for franchise contracts is not adjusted for
these transferred franchise rights. Revenue from the sale of individual café franchises is recognised over time.
The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date,
discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Group’s incremental borrowing
rate. Generally, the Group uses its incremental borrowing rate as the discount rate.
The Group has applied judgement to determine the lease term for some lease contracts in which it is a lessee that include renewal or
termination options. The assessment of whether the Group is reasonably certain to exercise such options impact the lease term, which
significantly affects the amount of lease liabilities and right-of-use assets recognised.
To classify each lease, the Group makes an overall assessment of whether the lease transfers substantially all of the risks and
rewards incidental to ownership of the underlying asset, or the right-of-use asset in the case of a sublease. If this is the case, then the
lease is a finance lease; if not, then it is an operating lease. As part of this assessment, the Group considers certain indicators such as
whether the lease is for the major part of the economic life of the asset.
Where the lease is classified as an operating lease, the Group recognises the lease payments from the operating lease as income on
a straight-line basis.
Royalty income from Franchise or Master Franchise Agreements (MFAs)
The Group recognises royalty revenue derived from its Franchises and MFAs at a point in time, based on sales by Franchisees that
are reported back to Company on a monthly basis for sales that occurred in that month.
Franchise fees
The Group recognises revenue derived from its Country & Regional franchise operations on a straight-line basis over a period of time
that the franchise agreement is in place, which is generally 10 years. This is the period of time over which the performance obligation
is satisfied. Payment is received upfront upon signing the franchise contract.
The Group recognises Franchise Fees derived from the franchise agreement entered by Triple Two Coffee at the point in time when
The Group recognises the Territory Fee over a period of time that the franchise agreement is in place, which is generally 10 years.
This is the period of time over which the performance obligation is satisfied. Payment is received upon signing the franchise contract.
Revenue from Contracts with Suppliers
The Group recognises revenue derived from supplier contracts relating to coffee supply purchases over the period of the contract.
The Group recognises a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially
measured at cost, and subsequently at cost less any accumulated depreciation and impairment losses and adjusted for certain
remeasurements of the lease liability.
When the Group acts as a lessor, it determines at lease inception whether each lease is a finance lease or an operating lease.
Under NZ IFRS 15 Revenue from Contracts with Customers, revenue is recognised either at a point in time or over time, or when (or
as) the Group satisfies performance obligations by transferring the promised goods or services to its customers.

28 May 2026
(signed by) Authorised Officer of Listed Issuer(date)
Other Revenue
Other revenue includes services to independent franchisees or third parties received by the Group.
Regional Developer Agreements
The Group recognises revenue derived from regional development sales over the life of the contract, which is generally 10 years.

Cooks Coffee Company Limited
UnauditedUnauditedUnaudited
31/03/2026
Global
franchising &
retail
UK franchisingNew Zealand
IRE franchising
Managed
Cafes
Total
Global operational splits$'000$'000$'000$'000$'000$'000
Revenue
1523,8824282,5795,31712,358
Grant and other income
01340171- 305
Release of liabilities
0- 0- - -
Raw materials and consumables used
0
(46)0(9)(1,635)(1,690)
Impairment loss on receivables0(303)(25)(61)- (389)
Net foreign exchange (losses)/gains0(1)53.00 (1)6
Emplo
yee costs0(1,389)(72)(1,017)(2,421)(4,899)
Other Expenses1,736(2,181)(1,503)(1,320)(1,122)(4,390)
Earnings before interest, tax, depreciation and amortisation
1,88896(1,167)3461381,301
Depreciation and amortisation0
(78)(2)(45)(341)(466)
Finance costs, net0(18)(217)(22)(266)(523)
Share of profit of joint ventures300- - 3
Profit/
(Loss) before income tax1,8910(1,386)279(469)315
Income tax (expense)/credit- - - - - -
Profit/(Loss) for the year from continuing operations
1,8910(1,386)279(469)315
Non-current assets
Intangible assets421,3151,481-
- 2,838
Pro
perty, plant and equipment
-1545290 518 967
Right of Use Assets
2,369
2,369
31/03/2025
Global
franchising &
retail
UK franchisingNew Zealand
IRE franchising
Managed
Cafes
Total
Global operational splits$'000$'000$'000$'000$'000$'000
Revenue
1373,285-2,3199876,728
Grant and other income
-157-94- 251
Release of liabilities
-- -- - -
Franchisee rebates and consumables used
(2)(49)-(27)(309)(387)
Impairment loss on receivables(40)(45)-(21)- (106)
Net foreign exchange (losses)/gains95(28)- - (14)
Employee costs-(1,228)(93)(710)(466)(2,497)
Other Expenses(48)(741)(1,263)(517)(188)(2,757)
Earnings before interest, tax, depreciation and amortisation
561,384(1,384)1,138241,218
Depreciation and amortisation-
(8)(1)(21)(87)(117)
Finance costs, net-(13)(365)(8)(78)(464)
Share of profit of joint ventures176--- - 176
Profit/
(Loss) before income tax2321,363(1,750)1,109(141)813
Income tax (expense)/credit- - - - - -
Profit/(Loss) for the year from continuing operations
2321,363(1,750)1,109(141)813
Non-current assets
Intangible assets421,3081,481-
- 2,831
Pro
perty, plant and equipment
-223170 121 415
Right of use assets
2,449
2,449
Continuing Operations