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Slow mover but certainly getting there. Big gap to fill around the 80p level if you look at the two year chart. Good thing is that it seems retail sales have been picking up which could add momentum.
https://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=UK%3APROC&insttype=Stock&freq=1&show=&time=9
Reduction in loss, continued cost savings , sales increasing and product range expanding.
If you have faith in the UK not going belly up this company with good ethics and a strong customer focus has potential to grow for the benefit of shareholders and employees.
procook group plc issued a trading update for the 16 weeks ended 15 october 2023 this morning. total revenue of £15.7m in the second quarter was -1.8% year on year, first half revenue of £26.3m was -3.8% year on year. the second quarter results reflect a strong summer sale performance during july and august, aided by considerably more favourable weather year on year. trading in september and into early october has been markedly softer, with lower footfall and traffic, and customers increasingly seeking out greater value and promotional offers. the board remains cautious with regards to the fy24 outlook given the highly challenging market conditions which persist. valuation is very attractive with forward pe ratio at 5.6x top *****ile for the household goods sector, dividend yield at over 7% also looks generous. however share price remains in a slump. monitor for now...
...from wealthoracle
wealthoracle.co.uk/detailed-result-full/proc/826
New CEO and new distribution centre up and running. Inflation coming down and a kitchen ware market open for competition. Stronger pound May mean goods imported will cost a little less.
My modest buy today is showing as a sell.
Such a shame their products are made in China. I'm sure there are cost justifications, but I just can't do it.
Does anyone know what cash raised from IPO was used for? I presume it was a payment to the founders? now they could buy the company back with half the cash pile they raised? I don’t see much margin in their balance sheet and cash flow to ride the waves.
New store opening https://www.getsurrey.co.uk/whats-on/food-drink-news/procook-opens-kinstons-bentall-shopping-26603221
I have taken advantage of their latest offer - £27 off a purchase over £100. A 'tasty' offer...
People starting to see the intrinsic value in the company
https://homeofdirectcommerce.com/news/procook-targets-market-share-growth-going-forward/
I can only see this going one way unfortunately. Despite it being a good company offering good products there are tough times ahead. On the beach announced that long haul flights and premium holidays are doing well. 3* holidays are struggling. I imagine that procook are selling to the latter.
Been doing some work near to the head office and the company I work with are confident that the unit may come available soon because they want it for expansion .
Will let you know of any movement.
Despite director buys and Fackelmann I don’t think either is big enough to save this.. I think we’re heading for a depression. Hold on to your hats.
Have you researched the German company who are acquiring shares?
https://www.fackelmann.de/
https://www.fackelmann.co.uk/
I think that when 2 directors purchase shares and this is soon followed by a larger foreign company purchasing an increasing amount then it is good enough research for me. I’ve also just bought some.
Watch this space…
It's a terrible business model. I bought a couple of pans from them before I realised where it was made (never fall for the 'designed in the UK' smoke).
If I had known where it was made, I would not have bought it. And now the handles have started to come loose.
Neither pro, nor the choice of cooks.
I got soooooo lucky earlier when it ticked up over 2% I pressed that sell button so fast haha . Pheweee lucky escape !
Blimey. I'm here bargain hunting but I'm so glad I didn't pull the trigger - it's down another 8% in an hour.
Down 20% so far today, on no news, and that's on top of the steep falls on Friday.
I can't see a specific reason. Madness!
Strains on the consumer, withdrawal of liquidity, turning sentiment towards recent IPOs, nowhere to turn for a stock like this. The market is pricing PROC for near total failure. Is this reasonable or a screaming bargain? Difficult to know the answer and even harder to add money on a risk-off day like this... but it might be the right thing to do.
Back in February 2022, The Sunday Times's Sabah Meddings thought ProCook would be able to overcome workers' return to offices and restaurants and that its decision to pull its range of cooking ware from Amazon.com would pay off.
To back up her case, she pointed to the company's latest trading update, which revealed a near 35% jump in sales versus a year ago with same store sales up by more than half over the past two years, if the third lockdown of 2020-21, when it stores were shut, is stripped out. Online sales did fall by 7% over the 12 weeks ending on 9 January, but repeat purchases rose by 27.3% after its shift away from Amazon.com.
And while workers return to offices and restaurants might drag on sales, rising energy bills and food prices could possibly encourage consumers to trade down, she said. Another potential headwind were rising shipping costs.
And while the company faced competition at the lower end of the market from supermarkets and discounters its cookware was cheaper than alternatives from John Lewis and Le Creuset, a third less expensive in the case of the latter.
Hence, said Meddings, the shares were a 'buy' at 140p...oh dear, how wrong can you be?
Design in UK, made in China, the way guarantees quality, fashion and profits. Good business model.
Agree decent company and quality products. Just bought a small tranch will add when dust settles. Long term i see solid rewards when normality returns. GLA
Such a shame their products are made in China.
Today's RNS is exactly in line with my views when posting below. A good company facing aome exceptional market challenges for the immediate future.
I've bought a lot of their gear - top notch stuff! I will invest here once the cost of living crisis is over. Juat a bit cautious about current headwinds
Fell back considerably but Up 4% now. Spread has narrowed significantly at least last Fridays has.
Bought on trust pilot reviews 72,000 reviews give it a 4.8 out of 5 score. About as good as it gets. Also expansion into Europe.
Only got £1600 worth. First purcase via primary bid.
Looks to me like 5 year hold.