ProCook Group PLC (LSE:PROC) shares rose 5% after the kitchenware retailer posted another quarter of double-digit sales growth and said it remained confident of meeting full-year expectations.
For the 16 weeks to 12 October, revenue jumped 25% to £21.3 million, marking the group’s eighth consecutive quarter of growth. Like-for-like sales, which strip out the impact of new store openings, were up 12.2%.
Retail sales rose 25% on last year, helped by six new store openings and a 6% like-for-like increase. Online sales also climbed 26%, boosted by strong performance on the relaunched Amazon UK marketplace and a 23% jump in like-for-like ecommerce revenue.
ProCook said disciplined pricing, improved marketing and product expansion helped it outperform the wider kitchenware market. First-half revenue reached a record £34.1 million, up 21% year on year, with gross margins and costs in line with expectations.
Chief executive Lee Tappenden said the company’s growing store estate, stronger brand visibility and improved customer engagement had positioned it well for the key Christmas trading season.
ProCook reiterated its medium-term goals of 100 UK stores, £100 million in annual revenue and a 10% operating margin.
In morning trading, the shares rose 1.72p to 36.22p.