Cook: ‘Upmarket ready meal business is like a 27-year game of Monopoly’
Upmarket ready meal maker Cook has compared its financial position to a near-three decade long game of Monopoly as it hailed being in “the best shape it has been in for a long while”.
The Kent-headquartered business said that it if the firm was a 27-year game of Monopoly, “we would now be in a strong position” and that it believes “we’re in the equivalent position of having three houses on each of the red, yellow and green property sets”.
Cook has made the analogy as it reported its financial performance for the 12 months to 31 March, 2024, which saw its turnover increase from £105.6m to £119.7m.
Newly-filed accounts with Companies House also show its pre-tax profit dipped from £3.2m to £2.4m in the year.
This is not the first time that Cook has reached for an unusual analogy to sum up its financial year.
In the previous 12 months, the business compared its performance to being down 4-0 at half time in a football match “because we were against truly devastating opposition” before rallying in the second half.
‘A solid board position and it should strengthen further’
A statement signed off by the board said: “We’ve all played Monopoly. It’s a game of patience in which it’s vital to preserve your finite money in the early stages.
“Acquire property sensibly’ get a set or two; build houses consistently; and then wait for the rent to roll in.
“If Cook was a 27-year game of Monopoly, we would now be in a strong position.
“Patience we have had aplenty and, year on year, we have invested steadily in our infrastructure, both physical and human.
“As we look ahead to the next five years, we believe we’re in the equivalent position of having three houses on each of the red, yellow and green property sets. A solid board position. And it should strengthen further.
“In the past year we have added two vital ‘houses’ with we feel confident will deliver value for Cook over the coming years.”
Cook was founded by Edward Perry and Dale Penfold in 1997. Penfold retired in 2017 and the business is now run by Perry and his sister, Rosie Brown, as joint chief executives.
Cook feels ‘confident for the future’
On its future, Cook added: “We feel the business is in the best shape that it has been in for a long while and, importantly, there is a welcome sense of calm.
“Since the Covid-19 pandemic, it has been a case of ‘one thing after another’: the pandemic itself; the challenges our kitchens faced as a result; the cyber attack we suffered; the onset of the Ukraine war; the resultant surge in food inflation; and the subsequent cost-of-living crisis.
“But right now, this flood of unexpected problems seems to be receding, leaving us with what we might call ‘normal’ business challenges: how to create delicious food from great ingredients; cook it efficiently; and sell it to customers under our brand.
“Since the turn of 2024, our kitchens have been operating much more efficiently and our sales channels have been performing more or less to plan. Happy days. We feel confident for the future”.