ProCook Group Delivers Strong Full Year Performance, Outpacing the Market
Why we think this is very good
ProCook Group has delivered a strong full year trading performance, with momentum building throughout the year. The company has significantly outperformed the UK kitchenware market, driven by a successful store opening programme, expansion of its electricals range, and improved promotional and seasonal offerings. While the company remains mindful of the geopolitical backdrop, it is confident in its ability to make good progress towards its medium-term ambitions, underpinned by record active customers and customer acquisition, as well as the expansion of its store network.
Key Points
- Strong full year revenue growth of 11.0% to £69.5m
- Particularly strong Q4 performance, with revenue up 17.8%
- Significant outperformance of the UK kitchenware market
- Improved cash position, with net cash of £1.0m at year end
- Confident in achieving medium-term strategic goals
Summary
ProCook Group plc has delivered a strong full year trading performance, with revenue increasing by 11.0% to £69.5m. The company saw particularly strong momentum in the fourth quarter, with revenue growth of 17.8%. ProCook has significantly outperformed the UK kitchenware market, driven by a successful store opening programme, expansion of its electricals range, and improved promotional and seasonal offerings. The company ended the year with a net cash position of £1.0m, compared to net debt of £0.7m in the prior year, and has £17.0m of available liquidity. ProCook remains confident in its ability to make good progress towards its medium-term ambitions of 100 stores, £100m revenue, and a 10% operating profit margin.