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ProCook Group PLC on Wednesday said sales growth accelerated during its financial first half, leaving it on track to meet full-year market expectations. In response, shares in the Gloucester, England-based direct-to-consumer specialist kitchenware retailer shot up 12% to 37.00 pence each in London on Wednesday. The company said its pretax loss narrowed to £2.9 million in the 28 weeks ended October 12 from £3.2 million a year prior. Revenue rose 21% to £34.1 million from £28.3 million including like-for-like growth of 8.3%, an acceleration from 4.3% a year ago. Sales growth also picked up pace as the half-year progressed, with second quarter revenue up 25%. Gross profit margin ticked up to 66.4% from 65.1%, reflecting ‘strong promotional discipline and pricing optimisation, supported by product sourcing cost improvements,’ the firm said. Six new stores were opened in the first half taking the retail estate to 71 stores with four more opened early in the second half, in advance of peak trading periods of Black Friday and Christmas. Performance in the first eight weeks of the second half, which includes Black Friday and early Christmas trading, has been ‘strong’, with ‘further acceleration in trading performance both online and from our expanded store network, driving continued significant market outperformance,’ ProCook said. ‘This continued momentum, despite the subdued consumer environment, underpins our confidence in delivering a strong full year performance, in line with market expectations.’ Company-compiled consensus is for full-year operating profit of £4.8 million on revenue of £79.5 million, which compares to £3.2 million in profit on £69.5 million in revenue in the 52 weeks to March 30, 2025. Chief Executive Lee Tappenden said: ‘This progress, demonstrated by our results, reinforces our confidence in delivering our medium-term ambition of 100 UK retail stores, £100 million revenue and 10% operating profit margin.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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