ProCook Group PLC (LSE:PROC) shares were flipped 21% higher to 21.5p after the retailer reported a strong start to its new financial year.
Posting results for the year to end-March, the kitchenware brand revealed flat sales at £62.6 million, with like-for-like revenue down 2.0% after a swing into positive territory in the fourth quarter.
It swung to an underlying profit of £1 million from a £0.2 million loss the prior year.
The first quarter of the 2025 financial year has seen like-for-like sales growth of 3.5% with retail stores up 2.4% and ecommerce channels up 5.5%. ]
Including the effect of new stores, net of store closures last year, total revenue increased 5.6%.
“Whilst mindful of the uncertain macro backdrop, we are confident in our unique specialist proposition and encouraged by the improving momentum we have been delivering over the last year,” the company said, guiding to “modest revenue growth”, primarily driven by an ecommerce recovery following the disruption last year and the planned opening of ten new stores, with gross margins expected to remain flattish.