ProCook Group PLC - Gloucester-based kitchenware retailer - Posts revenue of £12.6 million for the fourth quarter ended on April 2, down 9.7% from £14.0 million the year before, reflecting ‘ongoing uncertainty in the consumer backdrop and driven primarily by a reduction in Ecommerce revenue’, Procook explains. Ecommerce revenue for the quarter is £4.9 million, down 21% from £6.2 million a year earlier. Revenue for the full year amounts to £62.3 million, down 9.9% from £69.2 million. Looking ahead, expects financial 2023 underlying pretax profit to be breakeven, in line with previous guidance.
Chief Executive Officer Daniel O’Neill says: ‘The last year has been very difficult for consumers as real disposable incomes have fallen, which is reflected in our softer sales performance against our significant growth and market outperformance last year. While we expect trading conditions to remain challenging and unpredictable, we continue to grow our customer base by attracting new customers to the brand and remain confident in our value-for-money, specialist offer.’
Current stock price: 27.00 pence each, down 11% on Wednesday afternoon in London
12-month change: down 79%
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