REG - ProCook Group PLC - Third quarter trading update

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RNS Number : 7789O  ProCook Group PLC  14 January 2026

14 January 2026

 

ProCook Group plc

 

Third quarter trading update

 

Record peak season trading and significant market share gains

 

Underpins confidence in a strong full year performance

 

ProCook Group plc ("ProCook" or "the Group"), the UK's leading
direct-to-consumer specialist kitchenware brand, today reports on Q3 trading
results for the 12 weeks ended 4 January 2026.

 

                 Quarter three     Year to date
 £m              FY26     YoY(1)   FY26     YoY(1)

 Revenue         32.8     28.0%    67.0     24.1%
 Ecommerce       12.5     30.0%    24.3     24.1%
 Retail          20.3     26.8%    42.7     24.1%

 LFL Revenue(2)  27.0     17.2%    56.1     12.3%
 Ecommerce       12.1     28.9%    23.6     22.1%
 Retail          14.8     9.1%     32.5     6.1%

 

Record peak season trading performance reflecting ninth consecutive quarter of
revenue growth

·      Total revenue in Q3 increased by +28.0% to £32.8m and like for
like revenue increased by +17.2%

o  Retail revenue increased by +26.8% benefitting from the tenth consecutive
quarter of like for like growth (+9.1%), and the impact of new store openings

o  Ecommerce revenue increased by +30.0%, reflecting like for like growth of
+28.9% driven by significant growth in both traffic and average order values

·      Outperformed the UK kitchenware market (including kitchen
electricals)(3) by approximately 30%pts, as we continue to invest in growing
our share of the £5bn market

·      Strong cash generation led to a net cash position at the end of
the quarter of £7.8m (Q3 FY25: £1.0m) with available liquidity of £23.8m

·      Opened four new stores in Q3 as planned in prominent retail
destinations, taking the year to date total up to ten new stores and the total
retail estate to 75 stores

·      Successfully completed the B Corp recertification process during
the quarter, increasing the Group's BIA score to 93.1 (from 80 at initial
certification in Q2 FY23), and recognised as a Great Place to Work® for the
fifth year running

·      On track to deliver a strong full year performance, with revenue
and cash generation anticipated to be slightly ahead of market expectations.
Operating profit and PBT, excluding impacts of FX movements, anticipated to be
in line with market expectations following investment to drive acceleration in
market share gains

 

Lee Tappenden, CEO, commented:

"The Group's excellent peak season trading performance has built on our strong
momentum resulting in our ninth consecutive quarter of growth, with
substantial like for like revenue growth in both retail and ecommerce
channels. These results reflect strong execution of our strategy and the
outstanding customer focus and commitment demonstrated by our colleagues.

"Continued disciplined investment is supporting our results, enabling us to
significantly outperform the market and capture increased share, with our
active customer base growing to new heights driven by record new customer
acquisition as more customers discover our brand for the first time and enjoy
our award-winning quality products and excellent-rated service.

"These results, together with our expanding retail footprint and our enhanced
product offering which is clearly resonating with consumers, mean we are
confident in delivering a strong full year performance. We are firmly on track
to achieve our medium-term ambition of 100 UK retail 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                                                                                        Tel: +44 (0)7884 494 112
 Hunt

 Lucy Gibbs

 

Next scheduled event:

ProCook expects to release its FY26 Q4 trading update in mid-April 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, and through
75 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    32.8
 Revenue growth %       13.7%   25.1%   20.6%   28.0%
 LFL revenue (£'m)(2)   11.2    17.9    29.1    27.0
 LFL growth %           2.0%    12.2%   8.1%    17.2%

 

                        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 £79.5m, 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                Opened October 2025
 Plymouth     Drakes Circus              Opened October 2025
 Manchester   Arndale                    Opened November 2025
 Eastbourne   Beacon                     Opened November 2025

 

 

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