Strong growth in pet ownership continued to drive demand for Pets at Home as reflected in its strong trading results. For the six months to 7th October, group revenue rose by 18 per cent to £677.6 million, with like for like sales up by 28.6 per cent when compared to pre-pandemic levels. Profit before tax grew by 77.2 per cent to £70.2 million.
The retailer said that a stronger than expected and continuing growth in the pet population over the past 18 months was “materially increasing the size of our addressable market.” It now expects revenues to reach £2.3bn over the medium term, compared to the £1.4bn achieved last year.
Pets at Home also drew benefit from its pet care services offering. Client registrations across the store’s First Opinion veterinary practices averaged around 10,000 per week, around 10 per cent of all veterinary visits.
Peter Pritchard, Group CEO, said: “Our business has never been more robust. Our pet care strategy continues to deliver, we continue to take market share and improve spend per customer and the benefits of our investment in capacity and capability are really starting to deliver.
“Notwithstanding some near-term, industry-wide challenges, we continue to grow ahead of our plans and, based on trading year to date, we are on track to report a record year of sales and profit growth.
“I would like to express my sincere thanks to all our colleagues and Partners across the Group for their tireless work and dedication.”
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