LONDON (ShareCast) - (Sharecast News) - ProCook Group reported a slide in second-quarter sales on Friday, after the long hot summer kept people out of the kitchen.
The specialist direct-to-consumer kitchenware brand said like-for-like revenues fell 16% in the 16 weeks to 16 October, to £13.6m, or by 9% to £15.9m on a total basis.

Year-on-three-years, underlying revenues were ahead 110%, however.

First-half revenues were down 15% at £27.4m, including the 4 percentage point effect of the annualisation of its exit from Amazon UK in June 2021.

ProCook said the second quarter had come up against tough comparatives, while "challenging" market conditions had been driven by "the combined effects of heightened pressures on consumer spending, the prolonged hot summer weather and the return of overseas summer holidays".

The company noted that the consumer and macro environment continued to be "difficult" going into the second half, which includes its peak trading period. But it added that trading had picked up in the third quarter, and maintained full-year guidance for underlying pre-tax profits of between £4m and £6m.

Daniel O'Neill, chief executive and founder, said: "We are pleased to have seen a marked improvement in recent trading as we enter the important pre-Christmas trading period.

"We are focused on building on our recent trading momentum and strong foundations to develop the ProCook brand, strengthening our market position. We continue to invest in areas that will improve operational efficiency and capacity."

ProCook, which listed on the London market just under a year ago, sells kitchenware, cookware and tableware through its dedicated website and 56 own-brand UK stores.

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