ProCook Group (PROC) H2 2026 earnings summary

Executive summary

• Achieved record sales of £85.5 million for FY 2026, up 23% year-over-year and 11.8% like-for-like, outperforming the UK kitchenware market by 20 percentage points.

• Opened 13 new stores (8 in new format), bringing the total to 78, and expanded the customer base by 24.6% YoY to 918k new customers.

• Enhanced own-brand, direct-to-consumer model, driving gross margins above 65% and delivering award-winning customer service.

• Strategic focus on expanding store estate, product innovation, digital transformation, and recertified as a B Corp with a 16% improved B Impact score.

• Maintained strong customer engagement, satisfaction, and increased charity fundraising.

Financial highlights

• Revenue up 23% to £85.5 million; like-for-like revenue up 11.8%; gross profit up 26% with gross margin at 67.5%, up 170bps YoY.

• EBITDA increased 39.6% YoY to £12.5 million; operating profit margin rose to 5.7% (up 110bps YoY).

• Free cash flow more than doubled to £3.5 million after £5.1 million capital investment; net cash position at £4.4 million.

• E-commerce and retail channels both grew 23%; e-commerce mix stable at 37%.

• Profit before tax increased by 112.7% YoY to £2.5 million; net assets at £11.6 million.

Outlook and guidance

• Expect to open 5–8 net new stores in FY 2027, with continued focus on store maturity, refits, and mid single-digit like-for-like revenue growth weighted towards e-commerce.

• Gross margin expected to remain broadly flat; continued investment in technology and supply chain.

• No dividend recommended as focus remains on funding growth initiatives.

• On track to reach medium-term goals: 100 UK stores, £100m revenue, and 10% operating profit margin.

• Q1 FY27 revenue up 21.5% YoY, with like-for-like revenue up 11.5%.