ProCook posts 8.8% increase in second quarter revenue
ProCook has posted an 8.8% increase in total revenue to £17 million in its second quarter after it outperformed its market.
The kitchenware retailer’s total like-for-like revenue rose by 4.7% with growth spanning both the retail and ecommerce channels where there were respective uplifts of 7.1% and 12.2%.
The performance in the 16 weeks to 13 October meant that ProCook’s first half revenue climbed by 7.5% to £28.3 million and by 4.2% on a like-for-like basis. Gross profit and operating costs were in line with expectations given the second half weighting of the group’s profitability for the full year.
Lee Tappenden, ProCook chief executive, said: “We have continued to build on recent momentum and outperform the market, with strong trading in the second quarter, as we made significant progress in delivering our clear plan to accelerate profitable growth.”
In line with plans to open ten new stores in the current financial year, ProCook launched four in the first half and is legally committed to opening a further six in the second. The majority are expected to be open in time for the busy festive season.
Tappenden added: “The group’s trading momentum, encouraging performances from our new stores and strong product availability, positions us well for the important peak trading period.
“We look forward to continuing to build a stronger customer-focused business and deliver sustainable and profitable growth for all our stakeholders in the current financial year and beyond.”
Image: ProCook’s new store in Metrocentre, Newcastle. Opened September 2024.
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