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Pets at Home posts strong Q3 sales rise

Pets At Home saw its revenue rise by 7.8% to £182.2 million the 12 weeks to 1 January as the retailer enjoyed strong growth in services revenue.

GENERAL MERCHANDISE

Pets at Home posts strong Q3 sales rise

Pets At Home saw its revenue rise by 7.8% to £182.2 million the 12 weeks to 1 January as the retailer enjoyed strong growth in services revenue.

Third quarter like-for-like sales grew by 4.1% as services revenue climbed by 26% to £14 million and merchandise revenue increased by 6.5% to £168.2 million.

Fee income from the retailer’s joint venture veterinary practices was also up, rising by 32.9% to £6.4 million year-on-year.

During the quarter, Pets at Home opened seven new stores to bring the total number of stores to 392. It also expanded its services footprint by opening five veterinary practices and eight Groom Rooms in the period.

Pets at Home chief executive Nick Wood said: "We are very pleased with the continued growth in like-for-like sales. This reflects the strength of our offer, the multiple levers through which we can drive growth, and the resilience of the pet products and services market.

“I would like to thank all our colleagues for their contribution to the continued growth of the business in 2014. We will continue to execute on our successful strategy in 2015."

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