ProCook Group plc, the UK's leading direct-to-consumer kitchenware brand, has announced robust trading results for its third quarter, covering the 12 weeks to 5 January 2025. The Group reported an 11.2% year-on-year increase in total revenue, reaching £25.6 million. Like-for-like revenue grew by 3.4%, continuing the positive trajectory seen in previous quarters.
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Retail revenue rose by 12.4%, supported by like-for-like growth of 0.9%, marking six consecutive quarters of positive like-for-like retail performance. New store openings further contributed to growth, adding an additional 11.5 percentage points. Ecommerce revenue increased by 9.2%, with a 7.1% like-for-like improvement driven by higher traffic and conversion rates. Sales on the relaunched Amazon UK marketplace accounted for 2.1 percentage points of the growth in online sales.
CEO Lee Tappenden highlighted the Group's success during the critical Black Friday and Christmas trading periods. He credited enhanced promotional efforts, improved seasonal product ranges, and stronger inventory levels for the strong performance. Tappenden commented that these results aligned with the Group's expectations for the full financial year, despite ongoing consumer uncertainty. The Group's second-half revenue and profitability typically benefit from seasonal trends, network expansion, and disciplined cost management.
During the quarter, ProCook opened five new stores, bringing the total for the financial year to nine, while closing two smaller garden centre locations. The Group plans to open three more stores before the end of the financial year, achieving its goal of twelve new stores for FY25. At the end of the quarter, ProCook reported a net cash position of £1.0 million, with available liquidity of £17.0 million.
ProCook's strategic ambitions include reaching 100 stores, £100 million in annual revenue, and a 10% operating profit margin. The Group has continued to make progress towards these goals by responsibly investing in areas supporting medium-term growth. Tappenden reaffirmed ProCook's commitment to delivering sustainable expansion and ongoing operational improvements.
ProCook has a strong legacy as the UK's premier direct-to-consumer kitchenware brand. It designs and sells high-quality, own-brand kitchenware, offering significant value to customers. The company operates a multichannel model, selling through its website and 64 retail stores nationwide. Founded over 25 years ago as a family business, ProCook has grown into a market leader, employing more than 600 people. It is headquartered in Gloucester and has been listed on the London Stock Exchange since November 2021.
As a certified B Corp, a Real Living Wage employer, and a Great Place to Work, ProCook upholds a commitment to social responsibility and environmental sustainability. The company will release its fourth-quarter trading update in mid-April 2025.
More information:
ProCook
www.procook.co.uk