A UK kitchen retailer has reported an 11% increase in full-year revenue to £69.5 million, driven by strong performances in both its physical stores and online channels. On a like-for-like basis, revenue grew by 4.9% over the 52 weeks to 30 March. Retail sales rose by 10.3%, with like-for-like growth of 1.5%, while ecommerce revenue increased by 12.3%, including a 10.3% like-for-like rise.
© ProCook
The company achieved a 31.3% uplift in underlying EBITDA to £8.9 million, benefiting from cost discipline and improved marketing efficiency. Underlying pre-tax profit rose to £1.5 million from £1 million the previous year.
During the year, ProCook exceeded its store opening target by launching 12 new outlets, alongside expanding its small kitchen electrical range, with coffee machines performing strongly. Chief Executive Lee Tappenden said the company had delivered "record sales" and improved profitability, crediting its store expansion, product range, marketing, and customer experience for outpacing the market.
ProCook started the new financial year well, with total revenue in the 12 weeks to 22 June up 13.7%, including opening three new stores while closing one, bringing the total estate to 68 stores.
Tappenden expressed confidence in sustainable, profitable growth, aiming for 100 stores, £100 million revenue, and a 10% margin in the medium term.
Source: www.theretailbulletin.com