REG - ProCook Group PLC - Second quarter trading update

PROCOOKAnnouncement

Yesterday 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251015:nRSO3787Da&default-theme=true

RNS Number : 3787D  ProCook Group PLC  15 October 2025

15 October 2025

 

ProCook Group plc

 

Second quarter trading update

 

Strong trading momentum, outperforming the market, reflecting strategic
progress and commercial discipline

 

Confident in delivering a strong full year performance, in line with market
expectations

 

ProCook Group plc ("ProCook" or "the Group"), the UK's leading
direct-to-consumer specialist kitchenware brand, today reports on Q2 trading
results for the 16 weeks ended 12 October 2025.

 

                 Quarter two     First half
 £m              FY26    YoY(1)  FY26    YoY(1)

 Revenue         21.3    25.1%   34.1    20.6%
 Ecommerce       7.4     25.5%   11.8    18.4%
 Retail          13.9    25.0%   22.3    21.8%

 LFL Revenue(2)  17.9    12.2%   29.1    8.1%
 Ecommerce       7.2     23.2%   11.5    15.7%
 Retail          10.7    5.9%    17.6    3.6%

 

Strong momentum with eighth consecutive quarter of growth delivering a record
H1 trading performance

·      Total revenue in Q2 increased by +25.1% to £21.3m, reflecting
continued trading momentum and disciplined execution of our strategy,
resulting in the eighth consecutive quarter of growth. Total like for like
revenue growth accelerated to +12.2%

·      Strong trading results driven by improved commercial discipline
and substantial strategic progress made in key areas including new store
openings, retail service excellence, and paid social marketing activities:

o  Retail revenue increased by +25.0%, reflecting like for like growth of
+5.9% - marking the ninth consecutive quarter of like for like improvement -
with new store openings contributing a further +19.1% points

o  Ecommerce revenue increased by +25.5%, with like for like revenue growth
of +23.2%. Revenue generated on the Amazon UK marketplace, which we relaunched
early in Q2 FY25, added a further +2.3% points of growth

·      Outperformed the market(3) to deliver a record H1 revenue of
£34.1m, a +20.6% increase on prior year and an +8.1% increase on a like for
like basis

·      Gross profit margin and operating costs in line with our
expectations for the first half

·      Net debt at the end of the first half of £4.1m (H1 FY25: £4.2m)
after £2.2m capital investment in new stores (H1 FY25: £1.3m), with £11.9m
in available liquidity of cash and facilities

·      Whilst mindful of the economic backdrop, we are on track and
confident in delivering a strong full year performance, in line with market
expectations(4)

 

Disciplined execution of strategy and firmly committed to deliver our medium
term ambition of 100 UK retail stores, £100m revenue and 10% operating profit
margin

·      Six new stores successfully opened in the first half expanding
our retail estate to 71 stores after one closure (FY25 H1: 64). New store
format developed and launched in Birmingham Bullring

·      Four new stores committed to open in the second half, well timed
for Peak trading period ahead of Black Friday and Christmas

·      New small kitchen electricals collection continues to build
momentum, with H1 sales increasing by approximately +80% YoY

·      Improved seasonal relevance and promotional discipline driving
strong Summer and Autumn campaign performance

·      Substantial progress with social marketing and content creation
activity driving significant traffic growth, and attributed revenue growth of
over +150% YoY in H1

·      Well-prepared for important peak trading period in Q3 with
improved Black Friday and Christmas campaigns planned and inventory secured

 

Lee Tappenden, CEO, commented:

"The Group's strong second quarter performance marks our eighth consecutive
quarter of growth, delivering a record first half trading performance, with
our disciplined approach to trading and strong execution of our clear strategy
enabling us to significantly outperform the market and grow market share.

"With momentum building, a record number of customers shopping with us, and
expanded ranges and number of stores, we are well positioned for the peak
trading period.

"We remain firmly on track with delivering our medium term ambition of 100 UK
retail stores, £100m revenue and 10% operating profit margin, and whilst
mindful of the challenging economic backdrop, we are confident in delivering a
strong full year performance, in line with market expectations."

 

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                                                                                        Tel: +44 (0)7884 494 112
 Hunt

 Lucy Gibbs

 

Next scheduled event:

ProCook expects to release its FY26 interim results on 10(th) December 2025.

 

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, and through
71 own-brand retail stores, located across the UK.

Founded over 25 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
 Revenue growth %       13.7%   25.1%   20.6%
 LFL revenue (£'m)(2)   11.2    17.9    29.1
 LFL growth %           2.0%    12.2%   8.1%

 

                        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)(5)   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) 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).

(2) 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.

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

(4) Company compiled consensus average of analysts' expectations for FY26
revenue of £78.0m, and FY26 operating profit of £4.8m

(5) 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              Anticipated opening
 Southampton  Westquay                   Opened April 2025
 Hereford     Old Market                 Opened May 2025
 Reading      Oracle                     Opened June 2025
 Cotswolds    Cotswolds Designer Outlet  Opened July 2025
 Chichester   North St                   Opened August 2025
 Birmingham   Bullring                   Opened October 2025
 Canterbury   Whitefriars                October
 Plymouth     Drakes Circus              October
 Manchester   Arndale                    November
 Eastbourne   Beacon                     November

 

 

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  TSTBCBDGDUBDGUS



            Copyright 2019 Regulatory News Service, all rights reserved