ProCook revenues rise by 8.8% to £17m in Q2
The kitchenware retailer’s like-for-like revenue grew by 4.7% with positive growth in both retail and ecommerce channels
ProCook revenues increased 8.8% year-on-year to £17m in the second quarter of 2024, reflecting continued trading momentum and market “outperformance”.
The kitchenware retailer’s like-for-like revenue grew by 4.7% with positive growth in both retail and ecommerce channels.
Retail revenue increased 7.1% thanks to the fifth consecutive quarter of positive like-for-like growth and the impact of new store openings.
Ecommerce revenue increased 12.2% driven by conversion and marketing improvements, such as the relaunch of sales on Amazon UK which contributed 1.5% points of non-like for like growth in the second quarter.
For the first half of the year, revenue reached £28.3m, a 7.5% increase year-on-year and 4.2% on a like-for-like basis.
In line with the retailer’s plan to open ten new stores in FY25, ProCook has opened four new stores in the first half of the year as well as is planning to open a further six in the second half.
The group now expects gross profits and operating costs to be “in line with expectations” for the full year.
Lee Tappenden, chief executive officer, said: “We have continued to build on recent momentum and outperform the market, with strong trading in the second quarter, as we made significant progress in delivering our clear plan to accelerate profitable growth.
“The group’s trading momentum, encouraging performances from our new stores and strong product availability, positions us well for the important peak trading period. We look forward to continuing to build a stronger customer-focused business and deliver sustainable and profitable growth for all our stakeholders in the current financial year and beyond.”
