Pets at Home has raised its profit guidance again, thanks to a better-than-expected trading performance over the last eight weeks while the UK has been in lockdown.
The latest revision is the second this year, and the fourth since September.
The retailer, whose 451 stores have stayed open to provide ‘essential pet care’ to its customers throughout the pandemic, says it now expects its full-year pre-tax profits to be around £85 million. That’s up from the £77 million it previously forecasted and taking account of its pledge to repay business rates relief of £28.9 million.
In its latest trading update for Q4 – released on 26 February, the company said it had seen “continued strong and broad-based growth across all channels and categories”.
It also indicated that ‘positive progress’ on the coronavirus vaccination front (over 20 million people have now received a first dose in the UK) would help reduce the level of uncertainty ahead.
The group plans to announce its FY21 preliminary results on 27 May 2021.
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