ProCook Group (PROC)

Sector:

Household Goods

Index:

FTSE Fledgling

34.10p
   
  • Change Today:
      0.50p
  • 52 Week High: 40.50
  • 52 Week Low: 16.95
  • Currency: UK Pounds
  • Shares Issued: 108.96m
  • Volume: 22,046
  • Market Cap: £37.15m

ProCook upbeat for coming year, shares spark

By Abigail Townsend

Date: Wednesday 26 Jun 2024

LONDON (ShareCast) - (Sharecast News) - Shares in ProCook Group jumped on Wednesday, after the kitchenware brand flagged strong current trading and forecast an improvement in revenues.
The firm said total revenues in the year to 31 March were largely flat, up just 0.4% at £62.6m, or 1.7% once Amazon channels it has since exited were excluded. On a like-for-like basis, revenues eased 2%.

The group, a direct-to-consumer specialist, said that within that, underlying retail sales had sparked 2.8%, helped by new product launches and a renewed focus on customer service.

In contrast, e-commerce sales fell 8.7%, due to disruption caused by the transition to a new online platform.

Looking to current trading, however, and ProCook said the new website was now delivering stronger conversation rates.

In the first quarter of the current year, like-for-like online sales were up 5.5% and retail 2.4%, giving total growth of 3.5%.

It continued: "The group has had a strong start to the new financial year, with trading momentum continuing to build.

"While mindful of the uncertain macro backdrop, we are confident in our unique specialist proposition and encouraged by the improved momentum we have been delivering over the last year.

"In the 2025 full year we expect to deliver modest revenue growth, primarily driven by a recovery in e-commerce sales...and the planned opening of ten new stores.

"Our refreshed strategy and strengthened customer focus is beginning to deliver improved performance."

As at 1015 BST, shares in ProCook were up 9% at 18.5p.

Lee Tappenden, chief executive, said: "We have made good strategic progress and improved our trading performance throughout the last year, growing revenue, returning to profitability and reducing net debt."

Underlying pre-tax profits came in at £1m in the year to 31 March, compared to a pre-tax loss of £200,000 a year previously.

ProCook currently has 58 own-brand retail stores in the UK.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

ProCook Group Market Data

Currency UK Pounds
Share Price 34.10p
Change Today 0.50p
% Change 1.49 %
52 Week High 40.50
52 Week Low 16.95
Volume 22,046
Shares Issued 108.96m
Market Cap £37.15m

ProCook Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
84.76% below the market average84.76% below the market average84.76% below the market average84.76% below the market average84.76% below the market average
90.91% below the sector average90.91% below the sector average90.91% below the sector average90.91% below the sector average90.91% below the sector average
Price Trend
64.94% above the market average64.94% above the market average64.94% above the market average64.94% above the market average64.94% above the market average
66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average
Income Not Available
Growth
64.89% below the market average64.89% below the market average64.89% below the market average64.89% below the market average64.89% below the market average
45.45% below the sector average45.45% below the sector average45.45% below the sector average45.45% below the sector average45.45% below the sector average

ProCook Group Dividends

  Latest Previous
  Final
Ex-Div 01-Sep-22
Paid 30-Sep-22
Amount 0.90p

Trades for 21-Nov-2024

Time Volume / Share Price
15:59 3,297 @ 35.00p
15:53 5,749 @ 34.40p
13:26 3,000 @ 34.41p
13:16 10,000 @ 34.60p

ProCook Group Key Personnel

CFO Daniel (Dan) Walden
CEO Lee Tappenden

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