REG - ProCook Group PLC - Fourth quarter trading update

PROCOOKAnnouncement

Today 07:02

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260414:nRSN2723Aa&default-theme=true

RNS Number : 2723A  ProCook Group PLC  14 April 2026

14 April 2026

 

ProCook Group plc

 

Fourth quarter trading update

 

Trading performance ahead of expectations, significantly outperforming the
market, driving improved profitability year on year

 

Strong cash generation supporting investment for growth as we continue to
deliver on our strategy

 

ProCook Group plc ("ProCook" or "the Group"), the UK's leading
direct-to-consumer specialist kitchenware brand, today reports on Q4 trading
results for the 12 weeks ended 29 March 2026 and the full year (unaudited(1)).

 

                 Quarter four      Year to date
 £m              FY26     YoY(2)   FY26     YoY(2)

 Revenue         18.5     19.2%    85.5     23.0%
 Ecommerce       7.0      18.9%    31.3     22.9%
 Retail          11.5     19.4%    54.2     23.1%

 LFL Revenue(3)  15.0     9.9%     71.1     11.8%
 Ecommerce       6.8      18.2%    30.4     21.2%
 Retail          8.3      3.9%     40.7     5.7%

 

Excellent trading performance resulting in substantial market share gains

·      Total revenue in Q4 increased by +19.2% to £18.5m, with total
like for like revenue increasing by +9.9%

o  Retail revenue increased by +19.4%, reflecting an eleventh consecutive
quarter of like for like growth (+3.9%) benefitting from our focus on service
excellence, with new stores contributing a further +15.5% points of revenue
growth

o  Ecommerce revenue increased by +18.9%, with like for like growth of +18.2%
primarily driven by increased traffic. Marketplace revenue contributed +0.7%
points of growth

·      Record full year revenue of £85.5m, ahead of market
expectations(4), +23.0% year on year and +11.8% on a like for like basis

·      Outperformed the UK kitchenware market by +13% points during Q4,
and by +20% across the full year(5)

·      EBITDA anticipated to be slightly ahead of market expectations
for the full year driven by trading performance and acceleration in new store
openings

·      Operating profit anticipated to be in line with market
expectations reflecting the dilutive impact of new stores prior to reaching
maturity, and pre-opening costs. PBT also anticipated to be in line with
expectations, after impact of significant FX volatility

·      Strengthened balance sheet with net cash position of £4.4m at
year end (FY25: net cash of £1.0m) ahead of market expectations, after £5.3m
of investment capex on new store openings and disciplined management of
working capital

·      £20.4m of available liquidity in cash and facilities. RCF
increased to £15m (previously £10m) shortly after year end and committed for
a further three years to April 2029

 

Continued investment to build a stronger business and deliver our medium term
ambitions

·      Three new stores opened in the fourth quarter taking the full
year total to 13 (net 12, after one planned closure in Q1), increasing our
total UK retail estate to 78 stores, of which eight are now in our new format
 

·      Investment in paid media to accelerate growth in customer base
supporting a significant increase in new customer acquisition (+25% YoY) and
L12M active customer base (+24%)

·      Acceleration in social media content creation supporting growth
in paid social revenue (over +67% YoY in Q4), enhanced by acquisition of
substantial digital content library (9000+ recipes and imagery) from UK
operators (in liquidation) of the Delicious magazine

·      Continue to improve our technology, with a programme launched in
February and expected to be phased over the next two years to support growth,
increase agility and accelerate the capture of AI benefits

 

Lee Tappenden, Chief Executive Officer, commented:

"We have delivered a strong fourth quarter and full year performance,
significantly outperforming the market and improving profitability, whilst
accelerating investment in our new store opening programme. Strong revenue
growth across both our expanding store footprint and online reflects
substantial increases in new customers attracted to our brand and repeat
purchases, demonstrating that our unique product proposition and service focus
is really resonating with consumers.

"Whilst we are mindful of the potential macroeconomic effects of any
protracted geopolitical instability, we look forward to building on our recent
progress and continuing to increase market share as we drive profitable
growth. Our ongoing store openings, initiatives to increase brand awareness,
and disciplined investments to support growth, position us well to deliver on
our medium term ambition of 100 stores, £100m revenue and 10% operating
profit margin."

 

For further information please contact:

 ProCook Group plc                        investor.relations@procook.co.uk

 Lee Tappenden, Chief Executive Officer

 Dan Walden, Chief Financial Officer

 

 MHP Group (Financial PR Adviser)                                                            procook@mhpgroup.com

 Katie Hunt                                                                                  Tel: +44 (0)7884 494 112

 Lucy
 Gibbs

 

Next scheduled event:

ProCook expects to release its FY26 annual results on 24 June 2026.

 

Notes to editors:

ProCook is the UK's leading direct-to-consumer specialist kitchenware brand.
ProCook designs, develops, and retails a high-quality range of direct-sourced
and own-brand kitchenware which provides customers with significant value for
money.

The brand sells directly through its website, www.procook.co.uk
(http://www.procook.co.uk) , and through 78 own-brand retail stores, located
across the UK.

Founded 30 years ago as a family business, selling cookware sets by direct
mail in the UK, ProCook has grown into a market leading, multi-channel
specialist kitchenware company, employing over 700 colleagues, and operating
from its Store Support Centre in Gloucester.

As a B Corp, a Real Living Wage employer and a certified Great Place to
Work(TM), ProCook is committed to being a socially responsible and
environmentally conscious business for the benefit of all stakeholders.

ProCook has been listed on the London Stock Exchange since November 2021
(PROC.L).

Further information about the ProCook Group can be found at
www.procookgroup.co.uk.

Quarterly revenue performance:

                        FY26 (52 weeks ending 29 March 2026)
                        Q1      Q2      H1      Q3      Q4      H2      FY
 Revenue (£'m)          12.8    21.3    34.1    32.8    18.5    53.3    85.5
 Revenue growth %       13.7%   25.1%   20.6%   28.0%   19.2%   24.7%   23.0%
 LFL revenue (£'m)(3)   11.2    17.9    29.1    27.0    15.0    42.0    71.1
 LFL growth %           2.0%    12.2%   8.1%    17.2%   9.9%    14.5%   11.8%

 

                        FY25 (52 weeks ending 30 March 2025)
                        Q1      Q2      H1      Q3      Q4      H2      FY
 Revenue (£'m)          11.3    17      28.3    25.6    15.5    41.2    69.5
 Revenue growth %       5.6%    8.8%    7.5%    11.2%   17.8%   13.6%   11.0%
 LFL revenue (£'m)(6)   10.7    15.9    26.6    22.7    13.6    36.3    62.9
 LFL growth %           3.6%    4.7%    4.3%    3.3%    8.8%    5.3%    4.9%

 

Notes:

(1) FY26 financial metrics in this trading statement are subject to year-end
audit procedures

(2) YoY reflects year on year performance between the relevant financial
periods of FY26 (52 weeks ending 29 March 2026) and FY25 (52 weeks ended 30
March 2025).

(3) FY26 LFL (Like For Like) revenue reflects:

-           Ecommerce LFL - ProCook direct website channel only.

-           Retail LFL - Continuing Retail stores which were trading
for at least one full financial year prior to 30 March 2025, inclusive of any
stores which may have moved location or increased/ decreased footprint within
a given retail centre.

(4) Company compiled consensus average of analysts' expectations for FY26
revenue of £83.5m, EBITDA of £11.7m, operating profit of £4.8m and PBT of
£2.3m.

(5) UK market growth (excluding ProCook) calculated using weekly GfK
Kitchenware data and management estimates.

(6) FY25 LFL (Like For Like) revenue reflects:

-           Ecommerce LFL - ProCook direct website channel only.

-           Retail LFL - Continuing Retail stores which were trading
for at least one full financial year prior to 31 March 2024, inclusive of any
stores which may have moved location or increased/ decreased footprint within
a given retail centre.

 

FY26 store opening programme:

 Location     Retail Centre              Opening date
 Southampton  Westquay                   April 2025
 Hereford     Old Market                 May 2025
 Reading      Oracle                     June 2025
 Cotswolds    Cotswolds Designer Outlet  July 2025
 Chichester   North St                   August 2025
 Birmingham   Bullring                   October 2025
 Canterbury   Whitefriars                October 2025
 Plymouth     Drakes Circus              October 2025
 Manchester   Arndale                    November 2025
 Eastbourne   Beacon                     November 2025
 Glasgow      Braehead                   February 2026
 Bromley      Glades                     February 2026
 Sheffield    Meadowhall                 March 2026

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTBLGDSGSBDGLX



            Copyright 2019 Regulatory News Service, all rights reserved