By Elena Vardon
ProCook said its revenue in its key fiscal third-quarter for the third quarter grew on year, and stuck to its outlook.
The kitchenware company on Wednesday posted 25.6 million pounds ($31.9 million) in revenue for the three months ended Jan. 5, an 11% increase from the year-earlier period.
Growth was driven by both its ecommerce segment--which had higher traffic and conversions as well as sales on the relaunched Amazon UK marketplace--and its retail business, with the opening of five new stores.
Like-for-like revenue rose 3.4% to 22.8 million pounds, it said.
"Performance was particularly strong in the later part of the quarter as a result of the actions we took to elevate our Black Friday and Christmas campaigns this year, supported by improved promotional and seasonal product ranges, and stronger inventory levels," Chief Executive Lee Tappenden said.
The London-listed group's performance was in line with its full-year expectations, he said. ProCook is confident on delivering its mid-term strategy and its aim to open 100 stores, make 100 million pounds in revenue and post a 10% operating profit margin, Tappenden added.
The company closed the quarter with 1.0 million pounds in net cash with 17.0 million pounds in available liquidity, it said.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
January 08, 2025 02:27 ET (07:27 GMT)
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