Industry News

Successful year for Pets at Home

It has been a successful year for Pets at Home. The specialist pet retailer has shared its preliminary results for the last 52 weeks, ending 26 March. The business saw a 10 percent rise in full-year earnings, reaching £729m.

Pets at Home is already the country’s biggest small-animal vet, with over 330 practices. It also operates 400 stores and has revealed plans to open a further 20-25. Ian Kellett has been named chief executive of the business’s new retail division. Sally Hopson will be leading the services division.

Fiona Cincotta, a senior market analyst at www.finspreads.com, said: ‘Pets at Home only listed last year but is clearly in favour with investors after seeing its share price increase by 31 percent from a year ago and 14 percent above its 245p offer price,’

‘Pets at Home announced a solid start to the new fiscal year with a 10 percent rise in full year earnings. The company reported underlying core earnings for the year to 26 March rose to £121 million, in line with expectations and on revenues of £729 million.

‘The firm has achieved growth in sales ahead of growth in the UK pet market, with sales at stores that have been open over a year up 4.2 percent. Furthermore the opening of new stores, vet clinics and groom rooms has also contributed to its successful expansion.’

Image courtesy of Betty Longbottom

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