UK's ProCook hits record low on annual revenue forecast cut

PROCOOK

09/12/2022 08:58

** Shares of British kitchenware brand ProCook  PROC.L  down
18.1% at 27.1p, a record low since PROC's 2021 market debut 
    ** Co slashes FY23 revenue outlook to between 65 mln pounds
and 60 mln pounds ($73.4 mln and $79.5 mln) from around 70 mln
pounds forecast earlier
    ** PROC among top two pct. losers on London's smallcaps
index  .FTSC  
    ** Co says sales in recent weeks were weaker-than-expected
amid a challenging environment for consumers 
    ** Stock on track to log worst day in 6 months, if losses
hold 
    ** Co now sees FY23 underlying PBT to just about break-even
    ** Up to last close, stock down ~78% YTD
($1 = 0.8173 pounds)
 (Reporting by Prerna Bedi in Bengaluru)
 ((Prerna.Bedi@thomsonreuters.com;))