ProCook (LSE:PROC) posted a robust fourth quarter, with revenue climbing 19.2% to £18.5 million and like-for-like sales increasing 9.9%. Growth was supported by strong double-digit gains across both its retail stores and ecommerce channels, alongside contributions from newly opened locations.
For the full year, the company achieved record revenue of £85.5 million, representing a 23% year-on-year increase and exceeding market expectations. ProCook also significantly outpaced the broader UK kitchenware sector, outperforming it by around 20 percentage points while continuing to expand its market share.
Earnings performance showed improvement as well, with EBITDA projected to come in slightly ahead of forecasts, while operating profit and profit before tax were broadly in line with expectations. This came despite some headwinds from newer stores, which are still maturing, and foreign exchange pressures. The balance sheet remains solid, with £4.4 million in net cash and total available liquidity of £20.4 million, providing the company with flexibility to invest further in store expansion, marketing initiatives, technology upgrades, and AI capabilities. Management continues to target 100 stores, £100 million in revenue, and a 10% operating margin over the medium term.
Looking ahead, the company’s outlook is supported by improving operational performance and strong cash generation, along with positive share price momentum trading above key moving averages. However, these strengths are partly offset by elevated balance sheet leverage and weaker valuation signals, including a negative P/E ratio and the absence of a dividend yield.
More about ProCook Group PLC
ProCook Group PLC is a UK-based direct-to-consumer kitchenware brand focused on designing, developing, and selling high-quality own-brand products at competitive prices. Headquartered in Gloucester, the company operates through its website and a network of 78 stores across the UK. Established over 30 years ago, ProCook employs more than 700 people and has been listed on the London Stock Exchange since 2021.
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