Procook - performance deteriorating20 Oct 2023 13:32
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