ProCook has reported revenue growth and a return to profitability in the year to March 31; it stated total revenue grew by 0.4% to £62.6 million in the period, or by 1.7% when its Amazon selling channels over the last two years were excluded.
While like-for-life (LFL) revenue fell by 2% across the year, LFL revenue grew by 2.8% following its new product launches.
Lee Tappenden, CEO, commented: “We have made good strategic progress and improved our trading performance throughout the last year, growing revenue, returning to profitability, and reducing net debt through positive cash generation.
“Our unique direct-sourced and own-brand specialist proposition which offers high quality product at unbeatable value, with outstanding customer service, resonates very well with customers. This, combined with our strong foundations and a fragmented marketplace, provides a significant opportunity to raise brand awareness, expand our customer base, and increase our market share. We have a clear plan to accelerate profitable growth and we are focused on building a stronger customer-focused business that will support our growth ambition.”
However, the kitchenware retailers LFL ecommerce revenue declined by 8.7%, which it says was impacted by the move to its new website.
ProCook posted an underlying pre-tax profit of £1 million, compared to a loss of £0.2 million in the prior year.
Mr Tappenden added: “Our performance during the first quarter of FY25 demonstrates continuing momentum, and, whilst the market remains subdued and uncertain, we are confident that we can build on our recent performance, delivering sustainable and profitable growth for all our stakeholders in the current financial year and beyond.”
