Cautious consumers still seem willing to spend money on their pets after the leading retailer in the sector posted robust half year results.
Over 28 week period to 10 October, Pets at Home saw revenues in its retail chain surge 8.1% to £479.8m, with like-for-like sales up 7.8%. Meanwhile, revenue in its growing vets services business advanced 19.6% to £66.5m with like-for-like growth of 6.4%.
On an underlying basis, pre-tax profit increased 10.2% to £41.7m with the group saying it expects to deliver a full-year profit at the top end of market consensus.
Peter Pritchard, Group CEO commented: “I am very pleased with what we have achieved in the first half of the year. We have executed our plans well, and this has been reflected in the strong customer sales growth across the group.
“Our commitment, and that of the group’s joint venture partners, is to make sure pets and their owners get the very best advice, care and products; and this has led to record levels of VIPs, First Opinion practice clients and subscription customers. In short, our pet care strategy is working.”
