AGM
Annual General Munching
2015
Dale and Edward, Co-founders
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Thank you for attending our first Annual General Munching, the tastiest business meeting in town. This is our first attempt to make ourselves accountable to every stakeholder in COOK. That means our shareholders, our people, our suppliers and, of course, you, our customers. Today is your chance to find out a bit more about what we’ve been up to, ask questions, offer suggestions and taste some award-winning food.
the environment. Having blazed a trail, it’s hugely exciting to see dozens more companies joining us this month as part of the official launch of the B Corporation movement in the UK.
I guess the headline as I look back at last year would be: COOK keeps rocking. This was true in the straightforward business sense (record sales and profit). But, more importantly, it was true with regards to the bigger purpose of COOK: to use our business as a force for good in society.
As a COOK customer, I hope you feel that spending money at COOK means not only getting the best-tasting, prepared food you can buy but also supporting a business that is about much more than just making money. We know we’re far from perfect but we’re trying hard. All the shareholders of COOK (mostly family and friends) are committed to pursuing our purpose and not selling out to a venture capital firm or a bigger rival. Make no mistake, we’re on a mission.
This is a phrase we adopted from the B Corporation movement. Two years ago we became one of the first certified B Corps in the country, passing a tough test covering our corporate governance, how we treat workers, engage with our community and interact with
Pursuing our purpose is about three things working in harmony: Good Food, Good Business and Good Relationships. It is a genuine virtuous circle and any big decisions we make have to tick all three boxes.
A fancy accounting acronym. Essentially, cash generated.
e for LFL: Lik s. like sale ps Did sho re sell mo r this yea st? than la
If your local COOK shop is a franchise it trades as an independent business. So while everything in this report applies to the kitchens where COOK food is made, it might not apply to this specific shop. There are often good reasons for this (running a small business, even as a franchise, is very different from operating a bigger company). Over the next few years we will be working with our franchisees to bring everyone up to the same standards.
H i 20 gh 1 5 lig ht s
CHRISTMAS CRACKER Our expanded range of canapés was a huge hit at Christmas, with like-for-like sales up +75%. The finishing team at the COOK Kitchen was responsible for preparing them all by hand and it was no surprise they picked up the gong for our kitchen Team Of The Year.
FOOD
GREAT TASTE AWARDS
We’ve just collected 15 Great Taste Awards for 2015. That’s a whole rugby team’s worth — just in time for the Rugby World Cup. COOK PUDDINGS Down in Somerset we have built the Willy Wonka of pudding making kitchens. COOK Puddings should provide us with space to making our remarkable, hand-prepared puds for many years to come.
TEAM O F THE YEA R
FINISHIN G
IMPACT REPORT For the first time, we produced at Impact Report to show the progress we’re making towards reducing our negative impact on the environment and increasing our positive impact on the people who work for us and the communities where we operate. We’ve a heck of a long way to go, but it’s a beginning…
BUSINESS CLICK & COLLECT
From a standing start we managed to launch a Click & Collect service from all our shops in a matter of months. Alongside our expanded local delivery service it was a big contributor to our best Christmas ever.
PROFIT SHARE Over the 18 years of COOK, virtually all our profits have been reinvested in the business. Last year, we paid our first ever dividend to shareholders of £400,000 (they’ve been very patient). We also introduced a scheme to share 5% of profit among staff. All the rest of the money has gone back into the business so we can keep growing, offering opportunities to our people and sharing out financial rewards.
RELATIONSHIPS LIVING WAGE
BEST COMPANIES TO WORK FOR
In July we became the first high street retailer and only the second food manufacturer to adopt the Living Wage across our company-owned shops and in our kitchens.
Caring Hands 20,000 meals
One Feed Two 210,000 meals
Using our leftover ingredients, Caring Hands in Rochester feeds 52 vulnerable people every day at its drop-in centre.
PLASTIC BAG CHARGE GOES TO FOOD CYCLE
Special Award For Wellbeing: “COOK … has set out to build a culture where relationships can flourish and people feel connected to each other.”
Provided to school children in Malawi through our partnership with One Feeds Two at Christmas
STOP PRESS
We’ve decided that ALL the money we receive as a result of having to charge 5p for plastic bags from October will be donated to Food Cycle, a national charity that combines volunteers, surplus food and spare kitchen spaces to create tasty, nutritious meals for people at risk of food poverty and social isolation. Find out more at www.cookfood.net/plasticbags
COMMUNITY KITCHEN DISCOUNT
Volunteering Everyone can use up to five working days a year to volunteer for a charity of their choice.
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hours 30% OFF
In October we’re rolling out our Community Kitchen discount scheme to all shops. This gives local community groups 30% off our food when they use it for their events. During our trials we’ve provided food for fundraisers, charity events, local societies, church groups and schools. Find out more at www.cookfood.net/communitykitchen