Is it possible to populate a cell with a hyperlink but only show a shorter code?

Column A is for Product codes
Column B is to be a hyper link which will be populated from column A.

I am currently using this code In B1
=IF(ISBLANK(A1),"",HYPERLINK("www.mydomain.co.uk/"&A1))

If I typed zoo123 in column A1 then B1 will be http://www.mydomain.co.uk/zoo123

But I would just like zoo123 to show in the field so as to not take up so much room.
Or I would still like the A1 to populate B1 with the code but text saying "link" could always be there.
Please help as this is the final piece of the puzzle. If it is not possible to do this then please let me know and I will give up on my quest.
Kind regards
Simon

Thank you both are of great use. Many thanks!!!!!
Kind regards
Simon