ProCook cuts losses as revenues rise

ProCook
General RetailNews

ProCook narrowed its losses during its first half, as sales climbed.

The cookware retailer saw revenues jump 20.6% to £34.1m for the 28 weeks ended 12 October. The business attributed the rise to new shop openings as well as a “strong” online performance.

Pre-tax losses dropped from £3.2m to £2.9m over the period.

For the beginning of H2, revenues were up 28.4% to £18.8m for the 8 weeks to 7 December, rising 18.2% on a like-for-like basis.



ProCook CEO Lee Tappenden 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 during its first half, widening its store estate to 71 sites with a further four launched early in its second half.

Tappenden added: “We have increased our retail footprint with ten new stores since the beginning of the financial year in leading, high footfall destinations, and enhanced our product offering with increased seasonal relevance and more compelling value.

”This progress, demonstrated by our results, reinforces our confidence in delivering our medium-term ambition of 100 UK retail stores, £100m revenue and 10% operating profit margin, and underpins our confidence in delivering a strong full year performance, in line with market expectations.”

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ProCook narrowed its losses during its first half, as sales climbed.

The cookware retailer saw revenues jump 20.6% to £34.1m for the 28 weeks ended 12 October. The business attributed the rise to new shop openings as well as a “strong” online performance.

Pre-tax losses dropped from £3.2m to £2.9m over the period.

For the beginning of H2, revenues were up 28.4% to £18.8m for the 8 weeks to 7 December, rising 18.2% on a like-for-like basis.



ProCook CEO Lee Tappenden 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 during its first half, widening its store estate to 71 sites with a further four launched early in its second half.

Tappenden added: “We have increased our retail footprint with ten new stores since the beginning of the financial year in leading, high footfall destinations, and enhanced our product offering with increased seasonal relevance and more compelling value.

”This progress, demonstrated by our results, reinforces our confidence in delivering our medium-term ambition of 100 UK retail stores, £100m revenue and 10% operating profit margin, and underpins our confidence in delivering a strong full year performance, in line with market expectations.”

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