ProCook outperforms UK kitchenware market following stock market debut
Kitchenware brand ProCook has posted 34.6 per cent revenue growth for the third quarter, in results on Tuesday morning.
The firm reported revenue growth of 104.1 per cent on a two year like-for-like basis.
The retailer made its debut on the London Stock Exchange following an initial public offering at 145p per share, which valued the company at £158m last November.
Shares in ProCook were up slightly by one per cent on Tuesday morning in early trading.
Analyst expectations for the full year would be met, the company said, as it reported retail revenue growth of 124.3 per cent year on year during the quarter.
The company said it outperformed the country’s kitchenware market by 38.5 per cent points during the 12 week period ending 9 January 2022.
It opened two new sites at London’s Westfield shopping malls, in Stratford and White City.
Daniel O’Neill, ProCook’s CEO and founder, said he was pleased with the firm’s “strong trading performance” in the peak trading period, even with “the recent impact of the Omicron variant.”
He added: “This highlights the strength of our multi-channel offer and our direct-to-consumer business model. I would like to thank all of our team for their energy and dedication to continually improving our customer proposition.
“The excellent progress we have made in attracting new customers to experience the ProCook brand, combined with our high-quality product range and excellent-rated service proposition provides further encouragement and excitement for the period ahead as we continue to share our passion for cooking and look to roll out further exciting initiatives.”