ProCook performs 'ahead of expectations' in final quarter trading
ProCook Group PLC reported on Tuesday an ‘excellent trading performance’ in a fourth quarter trading update.
The direct-to-consumer kitchenware brand announced trading results ‘ahead of expectations’ for the 12 weeks ended March 29, resulting in improved full-year profitability.
The Gloucester-based company reported revenue for the quarter of £18.5 million, up 19% year-on-year. Like-for-like revenue growth was 9.9%.
Increased revenue came from both divisions, with Ecommerce revenue growing 19% to £7.0 million, and Retail revenue also rising 19% to £11.5 million.
Full-year revenue was £85.5 million, said ProCook, representing a year-on-year rise of 23%, and coming in ahead of market expectations of £83.5 million.
ProCook anticipates that full-year earnings before interest, tax, depreciation and amortisation will be slightly ahead of market expectations of £11.7 million, partly driven by the accelerated opening of new stores.
Profit before tax is expected be in line with market expectations of £2.3 million, impacted by the cost of opening new stores as well as ‘significant FX volatility’. For financial 2025, ProCook reported pretax profit of £1.2 million.
Shares in ProCook were down 5.8% at 35.81 pence in London on Tuesday afternoon.
Chief Executive Lee Tappenden commented: ‘We have delivered a strong fourth quarter and full year performance, significantly outperforming the market and improving profitability, whilst accelerating investment in our new store opening programme. Strong revenue growth across both our expanding store footprint and online reflects substantial increases in new customers attracted to our brand and repeat purchases, demonstrating that our unique product proposition and service focus is really resonating with consumers.’
‘Whilst we are mindful of the potential macroeconomic effects of any protracted geopolitical instability, we look forward to building on our recent progress and continuing to increase market share as we drive profitable growth. Our ongoing store openings, initiatives to increase brand awareness, and disciplined investments to support growth, position us well to deliver on our medium term ambition of 100 stores, £100 million revenue and 10% operating profit margin.’
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