ADVERTISEMENT
High Street

Pets at Home sales top £1bn in FY21

The group attributed its ‘extraordinary year’ to the 8% uplift in UK pet ownership over the past year in lockdown

Pets at Home has reported that group sales rose by 7.9% to £1.14bn in its financial report for the 52 weeks ended 25 March.

The pet retailer also saw a 35.5% increase in statutory pre-tax profit to £116.4m over the period, with like-for-like sales also jumping 8.7%.

For Pet at Home’s retail business, the company posted a like-for-like sales rise of 8.8% year-on-year, which increased by 17.3% on a two-year basis.

The group attributed its “extraordinary year” to the 8% uplift in UK pet ownership over the past year in lockdown.

Currently, Pets at Home expects to deliver an underlying pre-tax profit between £120-130m in the next financial year.

Peter Pritchard, the group’s CEO, said: “We ended this unprecedented year a far stronger pet care business. Despite challenges to how we were able to do business, we grew our market share across all channels and our underlying growth trajectory accelerated.

“Our loyalty clubs saw record periods of new customer registration, strong growth in subscription customers increased the visibility and quality of our sales profile, whilst new clients across our veterinary estate helped increase practice profitability and cash flow.”

He added: “We achieved all of this while remaining mindful at all times of doing the right thing for all our stakeholders. Covid-19 has structurally changed the dynamics of the pet care market.

“We estimate that the rising level of pet ownership, combined with structural demand drivers such as premiumisation and humanisation, has increased the outlook for growth across our addressable market, and in conjunction with our expectations of continuing to take market share, provides a tailwind to the £600m customer revenue opportunity we see across our business over the medium term.”

 

Back to top button