ProCook Group (PROC) H2 2025 earnings summary

Executive summary

• Achieved record sales of £69.5m in FY25, up 11% year-over-year, with strong trading momentum and customer growth.

• Outperformed the kitchenware market by 7% and delivered improved profitability and cash generation.

• Strategic focus on own-brand, direct-to-consumer model, store expansion, and operational efficiency.

• Leadership team strengthened with experienced hires to drive execution.

Financial highlights

• Revenue grew 11% YoY to £69.5m; underlying EBITDA rose 31% YoY to £8.9m.

• Gross profit increased to £45.7m, with gross margin at 65.8% (+10bps YoY).

• Underlying operating profit up 51% YoY to £3.2m; OP margin improved to 4.6%.

• Net cash position of £1.0m, a £1.7m improvement YoY.

• Free cash flow of £1.7m after £4.1m capex, mainly for new store openings.

Outlook and guidance

• FY26 guidance: 5–10 net new stores, low single-digit LFL revenue growth, gross margin improvement of 50–100bps expected.

• H1 typically loss-making, with sales weighted to H2; working capital to increase by ~£1m.

• Q1 FY26 revenue up 13.7% YoY, with sixth consecutive quarter of LFL growth.