Procook hails strong first half sales
Kitchenware brand Procook has posted strong revenue growth of 34.4% in the first half of its financial year.
In the 28 weeks ending 17 October, sales reached £32.1 million which was in line with expectations.
The company said retail sales performed particularly well with revenue increasing by 108.4% year-on-year to £16.9 million.
Procook also saw very strong growth of 23.5% on its own website against tough comparatives last year. However, total ecommerce sales were down 3.7% in the period due to the company’s strategic exit from Amazon UK.
Meanwhile, underlying pre-tax profit was in line with expectations with a drop of 11% to £3.6 million. Procook attributed the decline to higher marketing costs than last year, retail stores reopenings after lockdown, and investment for continuing growth.
During the period, ProCook launched six new stores and a London cookery school. In addition, it grew its number of active customers by 42.5%
Daniel O’Neill, Procook chief executive and founder, said: “In our maiden set of results as a listed business, we are pleased with our strong performance in the first half. We have made good strategic progress as we continue to share our passion for cooking; attracting more customers to experience our brand and our extensive kitchenware offer. “
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