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(Sharecast News) - Kitchenware retailer ProCook backed its full-year expectations on Thursday and hailed a record first half as it continued to gain market share.
The company said total second-quarter revenue rose 13.2% to £24.1m, reflecting strong trading despite the record-breaking summer weather. This resulted in a twelfth consecutive quarter of growth, with total like-for-like revenue up 6.2%.
Retail revenue ticked up 10.6%, driven by growth from new store openings, with LFL revenue down 0.7% as hot weather in the first half of the quarter dented footfall. ProCook said its trading performance strengthened significantly in the second half of the quarter.
Ecommerce revenue increased 17.9%, mainly driven by continued traffic growth.
For the first half, revenue hit a record £39.7m, up 16.3% year-on-year and 8.3% on a LFL basis. ProCook said it outperformed the UK kitchenware market by 14 percentage points in Q2, and by 20 points across the first half.
Chief executive Lee Tappenden said: "Our strategy continues to drive significant market share gains, with trading performance strengthening as we moved through the second quarter following the extreme heat during the summer, to deliver a record first half trading performance.
"Whilst mindful of the unpredictable macro backdrop, we are well positioned for the important peak trading period, with inventory in place across compelling Black Friday and Christmas ranges. We are, therefore, confident in delivering a strong full year performance, in line with market expectations."
At 1028 BST, the shares were up 4.5% at 43.88p.
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