ProCook saw its revenue climb by 11.4% in its fourth quarter which meant that growth was 29.5% in its full year.
In a trading update, the company said it attracted 723,000 new customers and benefited from an increase in repeat purchase rate which rose from 18.6% to 25.5% year-on-year.
ProCook said its online performance in the fourth quarter reflected tough comparatives from last year, when online demand during the Covid-19 lockdown was particularly strong. Online sales were also impacted by the company’s strategic exit from Amazon’s UK marketplace. This meant that fourth quarter ecommerce like-for-like sales were down 38.6% year-on-year, but up 134.1% on a two year basis.
The company said trading conditions have become more challenging over the last quarter, although it remains confident of its “value-for-money, specialist” offering despite a tougher consumer and macro environment. It anticipates that full year adjusted pre-tax profit will be broadly in line with market expectations.
