Procook Grp Share News (PROC)

(Alliance News) - Kitchenware company ProCook Group PLC on Wednesday reported a decline in half-year revenue, though it said it saw decent trade during the key Black Friday trading period.

In the half-year to October 15, revenue declined 3.8% to GBP26.3 million from GBP27.4 million a year prior. Its pretax loss, however, slimmed to GBP3.2 million from GBP3.5 million. Cost of sales fall 20% to GBP8.8 million from GBP10.7 million.

In the eight weeks since the end of the first-half, ProCook sales have risen 1.5% annually, outperforming the market, the firm said.

ProCook said it has solved the "teething issues" it suffered following the launch of its new website. It delivered a "robust" Black Friday, with sales up 3.5% on-year.

"Whilst the consumer macro backdrop remains challenging, we are pleased to have delivered a robust Black Friday campaign and an improvement in recent trading, as we enter the important pre-Christmas trading period," Chief Executive Officer Lee Tappenden said.

"Whilst we remain cautious about the timing and pace of market recovery, we are confident in our proposition and are making good strategic progress in building a stronger customer-focused business ready to accelerate growth as trading conditions improve and deliver profitable and sustainable growth for all stakeholders."

Shares rose 4.3% to 28.00 pence each in London on Wednesday afternoon.

By Eric Cunha, Alliance News news editor

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