Pets at Home revenues jump 7.9% to £436m
As a result the company has made no change to its guidance for FY24 and remains comfortable with current analyst expectations for group underlying profit before tax
Pets at Home has announced that its group revenue rose 7.9% to £436.8m for the 16 weeks ended 20 July 2023.
The company’s consumer revenues rose 10.2% to £568.2m supported by both volume and value growth.
Its vet group revenue was up 16.3%, with a like-for-like increase of 16.6%, increasingly supported by number of visits, improving mix and continued growth in average spend.
Furthermore, its retail revenue growth was up 7.1%, with like-for-like up 7.1% mostly driven by its food category which remains in volume growth.
Pets at Home opened two new pet care centres with in-store vets, both under its integrated brand, and also completed nine refits.
The company also continued progress in the development of its digital platform, remaining on track for delivery of its consumer app and website later this year.
As a result the company has made no change to its guidance for FY24 and remains comfortable with current analyst expectations for group underlying profit before tax.
Lyssa McGowan, CEO, said: “Our performance in the first quarter has been encouraging. The quality of our growth has remained strong as we grew transaction volumes and continued to acquire new consumers at an impressive rate, as our compelling value, range and service continues to resonate with consumers.
“It has also been a quarter of steady delivery against our strategic plan we set out in May. We have expanded and enhanced our physical estate, made good progress in the development of our digital platform, and continued the transition to our new distribution facility, as we execute on our ambition to build the world’s best pet care platform.”
