Kitchenware brand ProCook has seen its trading improve despite a "challenging" consumer backdrop.
The Gloucestershire firm, which sells its products online and at more than 50 UK stores, recorded for the 28 weeks to October 15 total revenue of £26.3m declined by 3.8% year-on-year. Underlying pre-tax losses narrowed from £2.83m to £1.72m, while at a reported level losses also narrowed from £3.5m to £3.23m.
In the first eight weeks of the second half of the financial year, including Black Friday and the early part of Christmas trading, total revenue was up 1.5% year-on-year.
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ProCook added that having solved most of the new website issues by the beginning of the Black Friday period, it enjoyed a robust Black Friday campaign with revenue growth of 3.5% year-on-year. Retail stores continued to perform well with a growth of 4.1% over the year and total revenue growth of 10.7%, which was supported by the opening of Trafford Centre and Watford stores.
In a statement on the London Stock Exchange, the retailer said: "Trading conditions remain challenging and volatile as we experienced in the first half, and the Board remains cautious about the timing and pace of market recovery. However, we are confident in our specialist proposition, and we are making good strategic progress in building a stronger customer-focused business ready to accelerate as conditions improve, to deliver profitable and sustainable growth for all stakeholders."
Lee Tappenden, chief executive, commented: "Whilst the consumer macro backdrop remains challenging, we are pleased to have delivered a robust Black Friday campaign and an improvement in recent trading, as we enter the important pre-Christmas trading period.
"I am delighted to have joined the business, with its strong foundations as a specialist retailer with a differentiated model and high-quality products providing a firm base from which to build brand awareness and expand the product range and store portfolio.
"Whilst we remain cautious about the timing and pace of market recovery, we are confident in our proposition and are making good strategic progress in building a stronger customer-focused business ready to accelerate growth as trading conditions improve and deliver profitable and sustainable growth for all stakeholders."
