PROCOOK GROUP PLC - Investor Presentation

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0:00 Introduction
3:11 Financial Review
11:38 Strategy Update
21:49 Current Trading & Outlook
25:31 Q&A

ProCook Group PLC (PROC:LSE) presented a strong H1 FY26 investor update demonstrating continued momentum against its medium-term strategy to reach 100 UK stores, £100 million in revenue, and a 10% operating margin. The company delivered record first-half revenue of £34.1 million, up 20.6% year-on-year, with robust like-for-like growth of 8.1% accelerating to double digits in Q2, driven by volume growth, market share gains, and disciplined promotional activity. Gross margin improved by 130 basis points, contributing to a 22.8% increase in gross profit and a 129% uplift in EBITDA to £2.3 million, while operating losses narrowed year-on-year despite cost pressures from wage inflation, National Insurance increases, and short-term dilution from new store openings. ProCook continued to execute its store rollout strategy, opening six stores in H1 and a further four early in H2, supported by a new premium-format store design that is delivering encouraging early trading and customer feedback, with average payback periods of around two years. E-commerce performance remained a key growth driver, with like-for-like growth of 15.7% in H1 and significant improvements in channel profitability through higher average order values and marketing efficiency. The company also reported a strong start to H2, with total revenue up 28.4% and like-for-like growth of 18.2% over the first eight weeks, reinforcing confidence in delivering full-year results in line with market expectations. Management emphasised continued cost discipline, selective investment, and scalable operating leverage as ProCook progresses toward sustainable profitability and long-term shareholder value creation.