ProCook has announced its Q4 trading results for the 12 weeks ending 31 March 2024.
Total revenue of £13.2 million was up 4.8% year-on-year. Total like-for-like revenue increased by 1.5%, continuing the improving trend from previous quarters.
Ecommerce like-for-like revenue was down 2.5% in Q4, improving from -5.1% in Q3, as further customer experience improvements were delivered.
Retail revenue growth of 8.9% in Q4 benefitted from the opening of two new stores in Q3 and the upsize relocation of a third store in Q4, partly offset by the closure of three smaller garden centre stores and the cookery school.
Full year revenue of £62.6m increased by 0.4% or 1.6% excluding the Amazon channels exited last year.
At the end of Q4, the group help a net debt positive of £0.7m, compared to £2.8m in Q4 2023.
Sales performance for the fourth quarter was in line with the board’s expectations and it expects full year underlying profit before tax to be between £0.5m and £1m, marginally ahead of market expectations.
Lee Tappenden, ceo, commented: “I am pleased with the growing momentum in our performance which reflects the enhanced range, experience and value we are delivering to our customers.
“Despite the market remaining subdued, we are gaining share giving us confidence that our proposition continues to resonate with consumers. We look forward to delivering further strategic progress as we continue to build an even stronger customer-focused business which will allow us to accelerate profitable growth as trading conditions improve.”
