Procook Share Discussion Threads

[kemche] 15/1/2024 20:32

Yet more buys from the CEO. Righty-ho.

[kemche] 13/12/2023 11:54

Steady as she goes in the current environment.

[aishah] 21/11/2023 12:09

Rise continues. Well past 50d SMA and 6% off 200d. Perhaps trading is improving:

"The Group typically generates around 60% of full year sales in the second half of the financial year. We are well prepared for this peak trading period, with strong product availability and offers planned."

[toffeeman] 20/11/2023 14:13

That's why I bought in - trouble is I paid 40p1

Same with HOTC paid 345!

[aishah] 20/11/2023 14:08

SP is up 34% since Oct 20th. Could Fackelmann be considering a buyout of this owner operated business? HOTC got taken out with founders extracting big value from Mars

[shortcpx] 21/10/2023 22:04

In America they'd say aspirational

[darrin1471] 21/10/2023 12:09

The new HQ was a major reason I did not invest. When built there are moving in expenses and inefficiencies that take time to work their way through.
Looking at the German business, a combination of both makes sense. Procook products selling into Germany and Australia and the Fackelmann brands selling into the UK.
Covid lockdowns boosted and brought forward future sales. Along with the disruption in supply chains this will take a few years to normalise.
Another concern I have is the trend of Chinese factories selling directly to end consumers worldwide via marketplaces like Amazon and cutting out the middleman like Procook.

[goingloco] 21/10/2023 09:25

The cash burn was supposed to end when the new HQ was completed. If it hasn't ended then the company is in real trouble.
I have never been able to fully understand the German involvement. See my previous posts. Either they know something I don't or they have lost a lot of money.
FD: I made a few bob trading this but I'm out at the moment. I'm not even short - assuming that's possible, I haven't looked.

[darrin1471] 20/10/2023 18:13

"Net debt at the end of the first half was GBP3.2m (FY23 year end: GBP2.8m) with available liquidity of GBP12.8m."
From last years Q2 update:
"Net debt at the end of the first half was -GBP1.3m (FY22 year end: -GBP1.8m) with available facility headroom of GBP14.7m"

Cash burn is consistently £1m per 6 months.
Needs watching.

[volsung] 20/10/2023 13:43

Very small free float
This could be delisted

[kalai1] 20/10/2023 13:30

ProCook Group plc issued a trading update for the 16 weeks ended 15 October 2023 this morning. Total revenue of £15.7m in the second quarter was -1.8% year on year, first half revenue of £26.3m was -3.8% year on year. The second quarter results reflect a strong Summer Sale performance during July and August, aided by considerably more favourable weather year on year. Trading in September and into early October has been markedly softer, with lower footfall and traffic, and customers increasingly seeking out greater value and promotional offers. The Board remains cautious with regards to the FY24 outlook given the highly challenging market conditions which persist. Valuation is very attractive with forward PE ratio at 5.6x top quintile for the Household Goods sector, dividend yield at over 7% also looks generous. However share price remains in a slump. Monitor for now...

...from WealthOracle

[dr biotech] 20/10/2023 09:37

How many recent IPOs have been a disaster? Made/here/seraphine/podpoint and others. The forecasts are almost fraudulent. Original talk here was for a 200p price..just glad I sold out early.

[fozzyb] 20/10/2023 09:14

Not sure this is going to make it. Liquidity fine for now but saw this on made dot com. Products increasingly less relevant for market conditions. I don't see this lasting past end of 2024.

[uncle_sam] 24/8/2023 10:26

Good on 'em to be able to recruit a well experienced exec like Tappenden as the new CEO. He has his work cut out for him, especially on marketing.

[kemche] 21/8/2023 21:58

I'm hoping the worst is behind them.

[goingloco] 21/8/2023 20:00

@kemche - not sure - much depends on the Germans and from what I am hearng thing are going badly back home. As for business in this country - what makes anyone think good times lie ahead? I'd say the price could go either way fro here, which is unsuaul for me, I typically take a view one way or the other. I'm out at the moment, but still watching this somewhat interesting almost-penny stock.

[kemche] 21/8/2023 15:29

Low in now?

[bloodhair] 28/6/2023 19:53

Wish I'd never 'invested' in this fiasco of a company (even though their pans are good). Never mind...one day Rodders....

[toffeeman] 12/5/2023 16:40

Well those 10k sells didn't shift the price - order being filled?

[jay083] 10/5/2023 08:48

Doing a bit of research on this and looking back material around the time of the IPO. MoS article from Jan-21 on instructing KPMG to look at options for the business the founder talks about a 'strategic partner' and expansion into Europe. Also rules out an IPO



Then this retail week article talks about them having a 'really good trade sale offer from a large European company' (fackelmann?) but going the IPO route as it didn't look like the founder/CEO was ready to hand over to someone else

hxxps://www.retail-week.com/home-and-diy/interview-procook-boss-daniel-oneill-shares-his-recipe-for-ipo-success/7041132.article?authent=1

Having been punished by the market over the last year and seeing their paper wealth eroded I wonder if the founder has had enough of being a listed entity. I can't help think the end game here is that its taken back by the founder with Facklemann on board - question is will minority shareholders get screwed over as seem to happen all too often in these situations.

Out of 27.4m shares offered at IPO well over half have been taken by Facklemann and CEO (13.166m + 1m) leaving 13.23m (or £3.7m worth @28p) in the hands of smaller shareholders....