UK's ProCook falls on lower quarterly revenue

PROCOOK

21/10/2022 12:54

** Shares of British kitchenware brand ProCook  PROC.L  
 PROC.L  down as much as 2.7% at 35p - lowest in more than nine
months
    ** Co posts Q2 revenue of 15.9 mln pounds ($17.71 mln), down
9.1% y/y  urn:newsml:reuters.com:*:nTUCNTX6G
    ** Co flags challenging mkt conditions driven by heightened
pressures on consumers spending, prolonged hot summer weather
and return of overseas summer holidays
    ** But says encouraged by improved run-rate 
    ** Expects FY underlying profit before tax to be between 4
mln pounds and 6 mln pounds ($4.45 mln-$6.68 mln)
    ** "The shape of trading was very similar to others in the
sector: it was tough through July and especially August, but
things have got better since then" - Peel Hunt
    ** Brokerage makes no changes to forecasts
    ** Including session's losses, ProCook stock has fallen
~76.5% YTD
($1 = 0.8989 pounds)
 (Reporting by Hani Kollathodi in Bengaluru)
 ((Hani.Kollathodi@thomsonreuters.com;))