ADVERTISEMENT
High Street

Pets at Home sees H1 profits grow to £70.2m

Total group revenue rose 18% to £677.6m from £574.4m in 2020 and was boosted by the continuing increase in active customers

Pets at Home has revealed that for the 28-week period ending 7 October 2021, pre-tax profits grew 77.2% to £70.2m from £39.6m the previous year.

Total group revenue rose 18% to £677.6m from £574.4m in 2020 and was boosted by the continuing increase in active customers.

Meanwhile retail sales jumped 21.9% on a like-for-like basis, with online sales continuing to thrive increasing 21.5%.

Looking ahead, the retailer said it now sees a pathway to £2.3bn of customer revenue across its business over the medium term and expects to report “higher” full-year profits ranging between £128m and £135m.

Peter Pritchard, group CEO, said: “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.”

He added: “I would like to express my sincere thanks to all our colleagues and partners across the group for their tireless work and dedication.”

Back to top button