Kitchenware brand ProCook has reported a dip in revenue amid “difficult trading conditions” during the first half of the year.
The Gloucestershire firm, which sells its products online and at more than 50 海角视频 stores, recorded sales of £26.3m, down by around 4% on the opening six months of its previous financial year.
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Bosses at the London-listed business said a “strong” summer sale performance during July and August was “aided by considerably more favourable weather” with total revenue of £15.7m generated in the second quarter. The board added that trading in September and into early October has been “markedly softer”, with lower footfall and traffic.
The retailer added that it typically generates around 60% of full-year sales in the second half of the financial year, and was “well prepared” for its peak trading period.
ProCook’s senior leaders told investors on Friday (October 20) they remained “cautious” for the rest of the year, as “highly challenging” trading conditions continue to impact on consumer spend.
Chief executive Lee Tappenden, who recently succeeded ProCook founder Daniel O’Neill as CEO, said: "Trading conditions remain challenging, and we continue to operate in an uncertain consumer and macroeconomic environment. We are focussed on delivering even greater value for our customers throughout the important peak trading period and beyond.
"We continue to build on ProCook's strong foundations to strengthen our proposition and brand awareness, expand our product range and store portfolio, and invest in the areas that will improve our operational efficiency and capacity. This will leave us well placed to capture the many growth opportunities available to us as trading conditions improve."
ProCook reported an underlying pre-tax loss of £0.2m for its last full financial year - plummeting from a £9.5m profit recorded in the previous 12 months. Revenue was also down 10% year-on-year to £62.3m from £69.2m in 2022. Bosses attributed the slide to lower sales, inflated operating costs and investment in new facilities to drive growth, including a new distribution centre and headquarters in Gloucester.