ProCook has warned on its full year performance following the impact of “increasingly challenging” market conditions.
The company also said it is currently trading against exceptionally strong comparatives from the last year, when it benefited from pent-up demand following the lifting of Covid-19 restrictions and the reopening of retail stores.
It confirmed that its like-for-like sales have weakened across all channels since it issued a trading update on its performance for the fourth quarter ending 3 April. However, its revenues remain significantly higher than the comparative pre-Covid period in 2019.
Looking ahead, the company said it envisages that the kitchenware market will remain highly challenging for the remainder of its current financial year. As a result, it is expecting its full year revenue to be broadly in line with the previous year.
It also anticipates delivering an adjusted pre-tax profit for the period of between £4 million and £6 million.
