Gloucester-based kitchenware retailer ProCook swung to a small loss in its last financial year as total revenue plunged by 9.9% to £62.3m.

ProCook recorded a £200,000 loss in the year to April 2, compared to a £9.5m profit the previous year.

During the first quarter of the new financial year, ProCook said trading conditions had remained "challenging" with the continued impact of inflation and further interest rate rises.

In the three months to 26 June, sales were down 6.7% year on year, with a 7.9% drop in like-for-likes as the warm weather and soft homewares market hit sales.

Its online business was particularly hard hit over the quarter, with sales nosediving 18.8% year on year.

ProCook has recently moved into a new 167,000 sq ft headquarters and distribution centre at St Modwen Park, Gloucester .

Daniel O'Neill, CEO and founder of ProCook, said: "In the 27 years since we first founded ProCook our focus on product quality, value and service have served as the key pillars of our customer offer, and I am pleased that this year we have again increased our active customer base, added three more retail stores and upsized two more, and retained our excellent-rated Trustpilot score.

"Our value for money offer has enabled us to retain a resilient trading performance despite the many headwinds."

But he added: "This year the economic backdrop has been one of the toughest I have experienced in my career. Our customers and colleagues have felt the squeeze on disposable incomes as inflation has soared upwards. We have faced challenging trading conditions before, and emerged stronger, more nimble, and more determined to press ahead with our mission to become the customers' first choice for kitchenware.

"I am pleased with the strong strategic progress we have made this year, despite the challenging economic backdrop. In opening our new distribution centre, simplifying our operations to focus on the UK, improving our in-store and online experience, and becoming a B Corp, while also extending and improving our product ranges, we have made significant steps forward.

"We have continued to invest in the areas that will support our long-term growth and performance, while taking difficult decisions to manage costs and preserve cash.

"We know that our proposition continues to resonate very well with customers, and with our progress this year, we have built a better business, paving the way for improved performance and future profitable growth in the years ahead."