ProCook hails strong fourth quarter revenue uplift
ProCook has been boosted by a strong performance in its fourth quarter when total revenue increased by 17.8% to £15.5 million.
In the three months to 30 March, retail revenue climbed by 14.7% as the kitchenware retailer recorded like-for-like growth of 1.9%.
Meanwhile, ecommerce revenue surged by 23.4% with like-for-like growth of 19.9%, which was driven by increased traffic and average spend. ProCook also benefited from sales on its relaunched Amazon UK marketplace.
The performance in its final quarter meant that the retailer delivered an 11% increase in full year revenue and a 4.9% uplift on a like-for-like basis.
Lee Tappenden, ProCook chief executive, said: “We have delivered a strong full year trading performance, with momentum building as we moved through the year.
“Our successful store opening programme, electricals range expansion and improved promotional and seasonal offerings, combined with enhanced marketing and customer experience, have enabled us to significantly outperform the market.”
ProCook launched three new stores in its fourth quarter which meant it opened a total of 12 in the financial year. It also continued to extend its small electricals category with the launch of a range of coffee machines.
Looking ahead, Tappenden said: “Whilst we are mindful of the geopolitical backdrop, our momentum is underpinned by record active customers and customer acquisition, and expansion of our store network, as we benefit from the delivery of our strategic priorities and responsible investment in areas that will support profitable growth.
“We are, therefore, confident in making good progress towards our medium term ambitions of 100 stores, £100 million revenue and 10% operating profit margin.”
