Describing a strong performance in preliminary results for the year ending April 3 2022, ProCook reports that its revenue is up almost 30% (+78.0% vs FY20). Its UK website is up +250.3% vs FY20 and active customer growth is up +74.9% year on year. The kitchenware retailer opened eight new stores during its last finanical year.
ProCook claims to have ‘outperformed’ the UK kitchenware market (by +36.0%pts), attracting new customers with its value proposition. The retailer estimates that the overall UK kitchenware market contracted during the first quarter of it FY23 financial year by approximately -12%, based on GfK data.
With a ‘strong financial position, a resilient business model, and a clear strategy for sustainable and profitable growth,’ ProCook emphasises that it is ‘well placed’ to continue its strong performance despite the difficult macro-economic climate.
Acknowledging the challenging market, Daniel O’Neill, ceo and founder confirms that ProCook’s “business is now much larger and stronger than pre-pandemic, with more customers and significantly improved sales and profits.”
He highlights: “Current market conditions have changed rapidly with consumer confidence deteriorating to lows not seen for many years.
“Despite this backdrop, as a direct-to-consumer kitchenware specialist, our attention remains on providing our customers with great products, exceptional value and the best possible service. We are confident that our proposition will continue to attract new customers to ProCook and that we can cater for all budgets and tastes, with our commitment to creating exceptional value through pricing which is at least 30% cheaper than comparable products from competitor brands.”
Above: A scene from ProCook’s Cookery School.
