FY22 Q3 Trading Update: Strong performance, gaining market share

ProCook Group plc (“ProCook” or “the Group”), the UK’s leading direct-to-consumer specialist kitchenware brand, today reports on trading results for the 12 weeks ended 9 January 2022.

The results highlight strong performance and continued momentum during the third quarter with total revenue growth of +34.6%. On a two year like for like basis, revenue grew by +104.1%. ProCook has outperformed the UK Kitchenware market by +38.5% points during the 12 week period.

Website revenue grew by +11.3% year on year during the quarter against tough comparatives with a two-year growth rate of +214.3%, whilst retail revenue grew by +124.3% year on year during the quarter benefitting from less Covid-19 restrictions, improved conversion and average spend, and the 8 new stores opened in the year to date.

During the quarter, ProCook was also recognised as a Great Place to Work, with certification awarded in December 2021, and announced its new partnership with the Woodland Trust to mitigate carbon emissions for FY21, with a view to achieving carbon neutral status for Scope 1 and Scope 2 ongoing.

Daniel O’Neill, CEO & Founder, commented:

“We are pleased with our strong trading performance during our third quarter and peak trading period, despite the recent impact of the Omicron variant. 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.”

Read the full report here.