ProCook has capped a record financial year with a 19.2% surge in fourth-quarter revenue to £18.5 million, as the kitchenware specialist continues to pull away from a growing but competitive market.
The strong final 12 weeks to the end of March drove full-year revenue to £85.5 million, a figure that exceeded market expectations and represents a 23% year-on-year increase. On a like-for-like basis, which measures performance from established stores, revenue was up 11.8%. The Gloucestershire-headquartered company also stated that its full-year EBITDA (earnings before interest, taxes, depreciation, and amortisation) is estimated to be slightly ahead of expectations, with operating profit set to be in line with forecasts.
Outperforming a Growing Market
Central to these results is ProCook’s significant outperformance of the wider UK kitchenware sector. The company told investors it had beaten the market by more than 13 percentage points in the fourth quarter and by over 20% for the full year. This growth in market share is occurring within a sector that is itself expanding steadily; one industry report estimates the UK kitchenware market reached $3.9 billion in 2024 and is projected to grow to $5.8 billion by 2033.
Chief Executive Lee Tappenden, who was appointed in September 2023 after senior roles at Walmart and Asda, attributed the success to the brand’s unique proposition. “Strong revenue growth across both our expanding store footprint and online reflects substantial increases in new customers attracted to our brand and repeat purchases,” he said. The company, founded over 27 years ago by Daniel O’Neill as a family mail-order business, now employs over 700 people and sells its own-brand cookware, tableware, and small electricals directly to consumers.
Analysts point to several converging trends favouring ProCook’s model, including the sustained popularity of home cooking, a consumer shift towards durable, higher-quality products, and a growing emphasis on sustainability. As a certified B Corp, the company has committed to a journey to net zero by 2040, uses renewable energy, and has eliminated landfill waste from its UK operations. This ethical positioning, coupled with a strategy of selling exclusively own-brand products for value, appears to be resonating with customers, evidenced by a high average Trustpilot rating of 4.8 stars.
Funding a Physical Expansion
This financial performance is fuelling, and is being fuelled by, an aggressive store expansion programme. In the fourth quarter alone, ProCook opened three new branches, bringing its total UK retail estate to 78. Of these, eight are now in a new, larger format designed to showcase an expanded range, including small kitchen electricals like coffee machines.
The company spent £5.3 million on store openings last year and has committed £7.0 million to 22 new openings since June 2024. Recent openings in the lead-up to the 2025 Christmas period included flagships in Manchester Arndale and Birmingham’s Bullring, as well as stores in Canterbury, Plymouth, and Eastbourne. This physical growth is supported by a strengthened balance sheet, with the company reporting £4.4 million in net cash and £20.4 million in available liquidity.
Mr Tappenden outlined a clear medium-term ambition: “Our ongoing store openings, initiatives to increase brand awareness, and disciplined investments to support growth, position us well to deliver on our medium term ambition of 100 stores, £100m revenue and 10 per cent operating profit margin.” He added that while the business was mindful of potential macroeconomic effects from geopolitical instability, it would look forward to building its market share.
