Procook Group, a London-listed kitchenware company, has announced that its pretax loss for the first half of its fiscal year has narrowed. However, the company remains cautious about the timing and pace of market recovery due to ongoing volatile and challenging conditions.
For the 28 weeks ended October 15, the pretax loss amounted to £3.2 million ($4 million), compared with a loss of £3.5 million in the same period last year. Underlying pretax loss, which excludes exceptional and one-off items, was £1.7 million, down from £2.8 million. Procook Group attributed this improvement to stronger gross margins and its continued focus on cost discipline.
During this period, the company’s revenue decreased to £26.3 million from £27.4 million. Like-for-like revenue also fell by 4.4% to £25.3 million, primarily due to challenging market conditions in the first half and issues related to the launch of its new website.
Despite these challenges, Procook Group remains confident in its proposition and is making strategic progress in building a stronger customer-focused business. The company is prepared to accelerate growth once trading conditions improve and aims to deliver profitable and sustainable growth for all stakeholders.