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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… View Article

HOME AND DIY RETAIL NEWS

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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