ProCook grows revenue and returns to profitability

Kitchenware retailer ProCook has reported revenue growth and a return to profitability in the year to 31 March.

Total revenue edged up 0.4% to £62.6 million in the period, or by 1.7% when the Amazon channels that were exited over the last two years were excluded.

While like-for-like revenue fell by 2% across the year, like-for-like retail revenue grew by 2.8% following new product launches and a continued focus on customer service.

However, like-for-like ecommerce revenue declined by 8.7% due to disruption caused by the move to a new website platform which was completed during the year and is now delivering stronger conversion rates.

Meanwhile, the retailer posted an underlying  pre-tax profit of £1 million compared to a loss of £0.2 million in the prior year.

During the period, ProCook launched the first two phases of its new small kitchen electricals ranges and completed the transition to its new store support centre. It also launched new stores in Trafford Centre and Watford and completed an upsize relocation in Cheshire Oaks.

Lee Tappenden, ProCook chief executive, said: “We have made good strategic progress and improved our trading performance throughout the last year, growing revenue, returning to profitability, and reducing net debt through positive cash generation.

“We have a clear plan to accelerate profitable growth and we are focused on building a stronger customer-focused business that will support our growth ambition.”

Giving an update on more recent trading, ProCook said revenue increased by 5.6% in the first quarter of its new financial year while like-for-like sales rose by 3.5%.

Tappenden said: “Our performance during the first quarter of FY25 demonstrates continuing momentum, and, whilst the market remains subdued and uncertain, we are confident that we can build on our recent performance, delivering sustainable and profitable growth for all our stakeholders in the current financial year and beyond.”