ProCook sales on the up as new stores help offset weak trading around the Budget

The high-street firm, which runs 64 UK shops, hailed a 'strong performance' over the latest half-year but saw like-for-like growth slow in more recent weeks

Kitchenware retailer ProCook has reported a boost in sales, crediting its new stores for helping to counterbalance the sluggish trade around the time of the autumn Budget.

The high-street chain, which boasts 64 UK outlets, celebrated a "strong performance" over the recent half-year, although it did experience a slowdown in like-for-like growth more recently. Company boss Lee Tappenden remarked on a "subdued start" to the latest quarter due to caution surrounding the Budget.

However, total revenue saw an uptick of 7.5% in the first eight weeks of the third quarter, ending December 8, with like-for-like sales seeing a modest rise of 0.9%. This comes after retail sales took a hit from "weak footfall" at the beginning of the period, but the firm noted an upswing in demand thereafter.

This follows a surge in group revenues by 7.5% to £28.3m for the 28 weeks leading up to October 13, buoyed by a 4.2% increase in like-for-like sales. This was further bolstered by robust online sales and the launch of four new stores during that time.

Mr Tappenden, the chief executive, expressed satisfaction with the company's performance: "We are pleased with trading results in the first half of the year. Whilst the important Q3 trading period had a subdued start in the early weeks coinciding with the Budget event, and a later Black Friday, year-on-year we are well positioned to take advantage of the improved momentum we are now experiencing, supported by our Christmas campaign, new product launches and strong inventory levels.

"We remain confident in delivering continued strategic progress and sustainable growth over the medium-term, as we work towards our ambitions of 100 stores, £100m revenue and 10% operating profit margin."

Despite this ambitious outlook, shares in the company dipped in early trading on Wednesday.