Home Business News Pets At Home deliver strong profits

Pets At Home deliver strong profits

by LLB Reporter
26th Nov 19 10:03 am

Pets At Home has reported a strong half year in sales as like-for-like retail sales was up by 7.8% and the vet group sales were up by 6.4%.

In the six months to 28 October underlying pre-tax profits rose by 18.9% to £45m, shares were up by 9% as the pet retailer are expecting full year profits toward the top end of expectations.

Chief executive Peter Pritchard said they are now ahead of their plans and are expecting to close to the top of the £87m, to £93m.

Pritchard said, “In short, our pet care strategy is working.”

He added, “We have much to look forward to in 2019-20 and beyond, and we now expect to return to profit growth a year ahead of our original plan.”

The company said they buy around $70m of products from Asia each year and warned they remain at risk of a sharp hit to the pound.

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