Pets at Home Plc has released its FY24 interim results for the 28-week period to 12 October 2023. Sales rose 6.5 per cent to £774.2m, with like-for-likes up 6.3 per cent, but pre-tax profit fell to £47.8m a 19.3 per cent drop. During this period, the retailer made significant investments in rebranding and a new distribution centre and has maintained its guidance for the year.
Commenting on the results, Lyssa McGowan, Chief Executive Officer at Pets at Home said: “H1 has been a critical period in laying the foundations of our platform for future growth. This was the period of high activity when we relaunched our brand, launched our new DC, built our new digital platform, and made progress expanding and improving our physical assets across Retail and Vets. This period has not been without challenges, but we have been able to manage these well and are on track to finish FY24 with a refreshed, modernised infrastructure, fit to deliver growth for many years to come.”
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