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Pets at Home enjoys increase in sales and profits

Pets at Home has reported that its pre-tax profit rose by 11.8% to £45.2 million in the first half of its financial year.

GENERAL MERCHANDISE

Pets at Home enjoys increase in sales and profits

Pets at Home has reported that its pre-tax profit rose by 11.8% to £45.2 million in the first half of its financial year.

Total revenue increased by 6% to £404.5 million while like-for-like sales rose by 1.8%.

In the six months to 8 October, the retailer saw growth in both its merchandise and services revenue which climbed by 4.1% and 26.2% respectively.

Nick Wood, Pets at Home chief executive, said: "Pet services have again grown significantly, benefitting from sustained organic growth in both our vet and grooming businesses, together with encouraging results from the acquisition of our first specialist referral hospital. In merchandise we continue to lead the market and grow our share in Advanced Nutrition foods.

"We have strengthened the business further through the implementation of our new divisional structure, whilst investment in our colleagues and seamless shopping experience continues to build our competitive and strategic strength."

During the period, the retailer opened six new Pets at Home stores taking the total 405. It also opened 15 new veterinary practices and 10 grooming salons.

Looking ahead the company said: “Management and the Board remain confident in the long term outlook for the pet retail market and the ability of Pets at Home to remain the differentiated leader, with a high growth, margin supportive pet services business.”

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