ProCook, along with many other businesses, has taken the decision to advise the market that projected sales are being impacted by the impact that economic pressures are having on consumers. It expects its profits this year will be between £4m and £6m, compared with the £10 million expected for the year to 3 April 2022. The business listed on the stock market in London last year and expects revenues of c£69m during the current year.
CEO Daniel O’Neill commented: “There are clear and numerous pressures on consumers at present which are impacting discretionary spend across retail as a whole and kitchenware is no exception. Whilst we are seeing lots of new customers discovering the ProCook brand and buying our products, it is clear that many are tightening their belts. This creates a difficult short-term trading environment, but does not distract us from our strategic priorities, as we work towards our mission of becoming the first choice for kitchenware.”
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