ProCook Reports Record Revenue and Profit Growth, Outperforming Kitchenware Market

It also acquired a record 918,000 new customers, up 24.6%, while active customers over the last 12 months rose to 1.4 million. That growing customer base matters because it gives ProCook more chances to sell again later, even though the 12-month repeat rate stayed flat at 20.5%.

ProCook profit margins improved – and that is a big positive for investors

This is where the update gets more interesting. Gross margin rose to 67.5% from 65.8%. In plain English, ProCook kept more profit from each pound of sales.

The company puts that down to pricing discipline, tighter promotions and lower landed costs. It also said there were favourable freight and foreign exchange benefits within gross margin, although profit before tax still took a £0.5 million adverse foreign exchange hit year on year elsewhere.

Operating profit rose to £4.9 million, equal to 5.7% of revenue, up from 4.6%. That is solid progress, especially as management says it reinvested some of the outperformance back into growth initiatives rather than simply banking the lot.

EBITDA, cash flow and balance sheet all moved the right way

EBITDA – earnings before interest, tax, depreciation and amortisation, a common measure of underlying trading cash profitability – increased to £12.5 million. Free cash flow doubled to £3.5 million even after £5.1 million of capital expenditure, mainly on new stores.

That cash generation helped ProCook end the year with £4.4 million of net cash, compared with £1.0 million a year earlier. It also has £20.4 million of available liquidity, and its revolving credit facility was extended to £15 million through to April 2029.

That stronger financial position gives the company room to keep investing without looking overstretched. For a growth retailer, that is important.

What ProCook is investing in next: stores, technology, DHL and paid social

Management is not sitting still. It is pushing ahead with more store openings, a new store format, a tech stack shift towards Software as a Service, and a warehouse transition to DHL Supply Chain.

There is also a big marketing angle here. Revenue attributable to social media advertising rose 93%, while customer acquisition cost fell 7.4% before growth investment. That suggests the marketing engine is becoming more efficient, which is exactly what you want to see when a brand is trying to scale.

One quirky but potentially useful move was the acquisition of a 9,000+ recipe and imagery library from the former UK operators of Delicious magazine. That sounds small next to the revenue numbers, but content matters if ProCook wants to build a stronger lifestyle brand rather than just be another cookware seller.

Current trading in FY27 shows momentum has carried on

The new financial year has started well. First-quarter revenue rose 21.5% year on year to £15.6 million, with like-for-like growth of 11.5%.

Ecommerce was especially strong, with like-for-like growth of 27.9%, while retail like-for-like growth came in at 2.5%. Two stores were opened, one was closed, and the estate now stands at 79 stores.

Management says it expects broadly stable gross margins in FY27 and another year of improved operating profit margin. That is encouraging guidance because it suggests growth is not being bought at the expense of profitability.

Risks investors should not ignore in ProCook shares

It is not all upside. The company flagged macroeconomic pressure, geopolitical instability and supply chain disruption as key risks. It also remains exposed to foreign exchange because around 95% of annual stock purchases come from non-UK suppliers.

There is also normal execution risk. Opening lots of stores quickly can backfire if footfall disappoints or costs rise. Retail profitability already fell to 17.3% of revenue from 20.0%, mainly because newer stores are less mature and carry pre-opening costs.

Another mild negative is that there is no final dividend. That will not please income investors, although the company’s logic is reasonable – it wants growth investment to remain self-funded.

My view on ProCook’s 2026 results: a genuinely strong retail update

I think this is a very good result. Sales are up sharply, margins are better, profits are rising faster than revenue, cash generation has improved, and the balance sheet looks stronger. That is a lot of boxes ticked in one go.

The biggest reason it matters is that ProCook is showing signs of becoming a scaled specialist retailer with a clear brand identity, rather than a small niche chain with patchy profitability. It still only has a 1.9% share of a fragmented market, according to management, so there is room to grow if execution stays sharp.

The valuation question is for the market, not this RNS. But on the operational numbers alone, ProCook looks to be moving in the right direction and carrying useful momentum into FY27.