ProCook outperforms market as earnings rise, boosted by new stores

(Alliance News) - ProCook Group PLC on Wednesday said it "significantly" outperformed the market as it reported a rise in annual earnings.

The direct-to-consumer specialist kitchenware retailer said pretax profit increased 61% to GBP1.2 million in the 12 months to the end of March from GBP730,000 the year prior.

Revenue was up 11% to GBP69.5 million from GBP62.6 million.

ProCook said the increased revenue reflected positive momentum in both its Ecommerce and Retail channels.

Retail revenue was up 10% while Ecommerce revenue grew 12%.

ProCook said it significantly outperformed the market, as it was 7% ahead of the UK kitchenware market, excluding kitchen electricals.

The firm said it has made a "good start" to the new financial year, with revenue during the first quarter surging 14% on-year.

"While we are mindful of the uncertain geopolitical backdrop, our momentum is underpinned by record active customers and customer acquisition, and we are confident we will continue to gain market share with our unique specialist proposition and that we will continue to realise the benefits of the strategic progress we have made in the last year," the company said.

ProCook said it expects "continued revenue growth" in financial 2026, primarily due to progress in digital marketing and Ecommerce performance, as well as the benefit of the annualisation and increasing maturity of new Retail stores from last year.

Further, ProCook said it will also benefit from the planned opening of between five and ten net new stores in the current year.

"We anticipate a modest improvement in gross margins, and with our continued focus on cost discipline across our business, we expect to mitigate cost pressures including the recent NIC increases, allowing us to re-invest responsibly to accelerate future profitable growth," the company added.

Chief Executive Officer Lee Tappenden said: "We have delivered a strong full year performance, achieving record sales and improving the group's profitability and cash position, reflecting considerable progress with the execution of our clear strategy. Our successful store opening programme, electricals range expansion and improved promotional and seasonal offerings, combined with enhanced marketing and customer experience, have enabled us to build momentum through the year and significantly outperform the market."

Shares in ProCook were down 1.3% at 39.50 pence in London on Wednesday afternoon.

By Michael Hennessey, Alliance News reporter

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