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Pets at Home posts record year

Pets at Home has increased its full year revenue by 15.3% to £1.317 billion to mark a record year for the business. In the 53 weeks… View Article

GENERAL MERCHANDISE NEWS

Pets at Home posts record year

Pets at Home has increased its full year revenue by 15.3% to £1.317 billion to mark a record year for the business.

In the 53 weeks to 31 March, retail revenue grew by 18.5% after store and online sales rose by 17.7% and 18.4% respectively.

Meanwhile, underlying pre-tax profit climbed by 65.3% to £144.7 million in the year.

Peter Pritchard, Pets at Home outgoing group chief executive, said: “Despite another period characterised by significant and evolving external challenges, our performance this year has been noteworthy, delivering record sales, profit, and cash flow. I would like to express my heartfelt thanks to our truly inspiring colleagues and partners across the group for their continued adaptability and commitment to making Pets at Home bigger, stronger, and more efficient.”

Pets at Home said it should be on track to meet analysts’ expectations for underlying pre-tax profit of £151 million for the current financial year.

Pritchard added: “We are well placed to accelerate our growth in market share. The robust backdrop of the UK pet care market, coupled with our clear strategic priorities, proven omnichannel model and strong executive team, mean that I hand over leadership of this great business to Lyssa McGowan with the utmost confidence that Pets at Home will continue to create value for all stakeholders in both the near and longer-term.”

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