ProCook hails strong first half growth
ProCook has seen its total revenue increase by 20.6% to a record £34.1 million in its first half.
In addition, the kitchenware retailer more than doubled its EBITDA to £2.3 million while reducing its pre-tax loss to £2.9 million from £3.2 million a year earlier.
Meanwhile, like-for-like sales increased by 8.1% in the 28 week period ending 12 October.
Lee Tappenden, ProCook chief executive, said: “The group has delivered strong growth in the year to date, outperforming the market whilst making significant progress with our strategic priorities, which is testament to our colleagues’ incredible drive and commitment.
“Our momentum has continued to build, with record numbers of customers discovering the brand for the first time and enjoying our award-winning quality products and service, and our growing active customer base generating higher repeat purchases.”
ProCook opened six new stores in the period which meant it expanded its retail estate to 71 stores after one closure. It also opened an additional four stores after the period end in time for peak trading.
The company said its performance in the first eight weeks of its second half was strong both online and in its stores.
Tappenden added: “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, and underpins our confidence in delivering a strong full year performance, in line with market expectations.”
