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Pets at Home upgrades profit forecast

Pets at Home has raised its guidance for full year underlying pre-tax profit following a better than expected performance over the last eight weeks. In January,… View Article

GENERAL MERCHANDISE

Pets at Home upgrades profit forecast

Pets at Home has raised its guidance for full year underlying pre-tax profit following a better than expected performance over the last eight weeks.

In January, the retailer said profit was likely to come in at £77 million but has now increased this figure to £85 million.

In a statement, Pets at Home said: “In our trading update on 8 January 2021, our guidance for full-year profit out-turn reflected a number of ongoing uncertainties over the near-term outlook, including renewed challenges from higher Covid infection rates and restrictions on a national level, as well as potential supply disruption relating to the UK’s exit from the European Union.

“Notwithstanding this challenging external environment, our performance over the last eight weeks has been ahead of expectations, with continued strong and broad-based growth across all channels and categories.”

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