Pets At Home, which has 350 outlets across the UK, raised its profit forecast today as the pandemic boosted pet ownership in the country.
The company today said full-year profits will be £85m, up from a previous estimate of £77m.
Nicholas Hyett, analyst at stockbrokers Hargreaves Lansdown, said: “Pets at Home has added 10% to January’s full year profit guidance.
“The rapid improvement is evidence of just how strong recent trading has been, and the effect rolling lockdowns are having – both on pet ownership and our willingness to splash out on our furry friends.
“There is always a risk of course that newly acquired pets fall out of favour once lockdown comes to an end, but for now pet retail is in the jaws of a boom.”
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