Kitchenware retailer ProCook Group (LON: PROC) grew strongly in the third quarter, which is the third quarter in a row where the growth rate has accelerated. The business is outperforming the market.
Third quarter revenues were 11% higher at £25.6m, which means that the year-to-date figure is 9.2% ahead at £54m. Third quarter growth in retail was 12.4%, helped by store openings, and ecommerce growth was 9.2%. Like-for-like growth to December 2024 was 3.8% with ecommerce growing fastest.
The decision to keep a high level of inventory appears to have paid off. Net cash was £1m at the end of 2024.
Three more stores will be opened in the fourth quarter. ProCook will return to profit this year. The share price increased 10.4% to 42.5p and it has recovered 63.5% since the end of 2023.