ProCook Q4 revenues jump 4.8%
It was also boosted by the opening of two new stores in the previous quarter and the upsize relocation of a third store during the fourth quarter
ProCook has revealed that its revenues jumped 4.8% up to £13.2m for the 12 weeks ended 31 March 2024.
As a result of this the board expects its full-year underlying PBT for FY24 to be between £0.5m to £1.0m, marginally ahead of market expectations.
Furthermore, the company’s total like-for-like revenue turned positive in the quarter, increasing by 1.5%.
E-commerce LFL revenue was down 2.5% in Q4, improving from a 5.1% drop last quarter as further customer experience improvements were delivered.
ProCook’s retail revenue rose 8.9% and benefited from continued momentum in LFL revenue growth (4.3%).
It was also boosted by the opening of two new stores in the previous quarter and the upsize relocation of a third store during the fourth quarter.
This was partly offset by the closure of three smaller garden centre stores and the Cookery School part way through the quarter.
Lee Tappenden, CEO, said: I am pleased with the growing momentum in our performance which reflects the enhanced range, experience and value we are delivering to our customers.
“Despite the market remaining subdued, we are gaining share giving us confidence that our proposition continues to resonate with consumers. We look forward to delivering further strategic progress as we continue to build an even stronger customer-focused business which will allow us to accelerate profitable growth as trading conditions improve.”