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Gloucestershire Business News

ProCook delivers a strong trading performance

ProCook, the UK's leading direct-to-consumer specialist kitchenware brand, announced its fourth quarter trading update this morning.

Total revenue in Q4 increased by 17.8% to £15.5m reflecting a further improvement in the trend achieved over recent quarters (Q3 revenue growth +11.2%, Q2 revenue growth +8.8%, Q1 revenue growth +5.6%). Total like-for-like revenue increased by +8.8%.

Retail revenue increased by 14.7% benefitting from like-for-like growth of 1.9%, the seventh consecutive quarter of positive like-for-like growth, with new store openings contributing a further 12.8% points.

Ecommerce revenue increased by +23.4%, reflecting like-for-like growth of 19.9% driven by increased traffic and average spend year on year, and sales on the relaunched Amazon UK marketplace contributing 3.5% points of growth

A strong final quarter led to record full year revenue, an 11.0% increase on prior year and a 4.9% increase on a like-for-like basis.

Gloucester-based ProCook outperformed the UK kitchenware market by 10% during Q4, and by 7% across the full year as a whole.

Invested to drive market share gains, with improved profitability and strong cash generation

Three new stores opened in the fourth quarter bringing the total to 12 openings in the year, ahead of ProCook's planned range of five to ten per year (three smaller garden centre stores closed in the year), with a further three new stores expected to open in Q1 FY26

Lee Tappenden, chief executive officer, said: "We have delivered a strong full year trading performance, with momentum building as we moved through the year. 

"Our successful store opening programme, electricals range expansion and improved promotional and seasonal offerings, combined with enhanced marketing and customer experience, have enabled us to significantly outperform the market.

"Whilst we are mindful of the geopolitical backdrop, our momentum is underpinned by record active customers and customer acquisition, and expansion of our store network, as we benefit from the delivery of our strategic priorities and responsible investment in areas that will support profitable growth.

"We are, therefore, confident in making good progress towards our medium term ambitions of 100 stores, £100m revenue and 10% operating profit margin."

Daniel O' Neill, co-founder of ProCook, told Punchline's Business Breakfast Briefers  last week that ProCook had recently introduced a range of coffee machines and they were "flying off the shelves".

"They went down really well with the press as well," he said. "ProCook delivers great quality products at affordable prices and that's what it's all about as a brand. We only sell our products so customers are able to walk into a store and talk to our people."

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