Cooks Global Foods which owns the Esquires coffee shop brand outside of Australia and New Zealand, lost $4 million in the year to March, a fifth lower than the previous year.
Cooks said the loss mainly reflected one-time costs buying the Esquires master franchise business in China.
Revenue more than doubled to $8.9 million, driven by an increase in store numbers and a solid performance from its supply division, which includes the Scarborough Fair and Progressive Processors businesses.
The company has opened 14 new Esquires stores since March and has acquired the rights to Esquires' intellectual property in Canada from the original franchisor.
Cooks has also signed master franchise agreements with commitments to open new stores in a number of new countries, including Indonesia and Cyprus.
