Pets at Home sales boosted by strong services growth
Pets at Home saw its like-for-like revenue rise by 3.9% in its first half after trading momentum steadily improved throughout the period.
In the 28 weeks to 12 October, like-for-like merchandise sales rose by 3.1% as trade was boosted by omnichannel initiatives, innovations in the retailer’s accessories ranges and changes to pricing.
Meanwhile, services revenue increased by 9.5%.
However, statutory pre-tax profit, which includes exceptional charges relating to Pets at Home’s veterinary specialist referral centres, was £40.8 million compared to £46 million in the same period in the previous year.
Group revenue was up 6% in the period at £468 million.
Ian Kellett, Pets at Home group chief executive, said: “Our strategic progress and trading momentum have steadily improved through the first half of the financial year. In the merchandise business, our like-for-like sales grew by 5.1% in the second quarter, driven by our pricing changes, omnichannel offer and product innovation.
“We are confident we are taking the right actions to reposition our merchandise business and having seen the results from our initial investments, we are accelerating our plans. There remains much to do and we will continue to evolve our strategy and adapt to customers’ needs in what remains a competitive market place.”
