Pro Cook profits surge 25% in FY22
It saw a strong revenue growth of +29.5% to £69.2m (+78.0% vs FY20), and opened eight new stores during the year
Pro Cook has revealed its gross profits for the year end 3 April 2022 was £45m, up 25.5% from £35.9m over the same period in FY21.
It also saw strong revenue growth of +29.5% to £69.2m (+78.0% vs FY20), and opened eight new stores during the year.
Growth in its active customers also improved by 74.9% YoY, a rise of 723,000 new customers
In line with its recent trading update on 10 June 2022, the Pro Cook board said that it expects that revenue for FY23, will be “broadly in line with the last year”, with underlying profit before tax of between £4-£6m.
Daniel O’Neill, CEO and founder, said: “Over the last year we have made considerable progress in developing our customer proposition and direct-to-consumer model. I am pleased with our trading performance and the strategic progress we have made during what has been a challenging period.
“Despite these challenges, our business is now much larger and stronger than pre-pandemic, with more customers and significantly improved sales and profits. I would like to personally thank all of our people and partners, who have accomplished so much together over recent years.”
He added: “We are energised by the longer term opportunities we see ahead of us to develop the ProCook brand and our sharpened focus on the core UK market opportunity during these difficult times, will give us the capacity to reinforce and strengthen our market position and customer proposition, leaving us better placed to capture wider growth opportunities as trading conditions improve.”