Retailer Pets at Home achieved record revenues and topped £100m profits for the first time during 2012.

The Cheshire-based firm's turnover for the year to March 28 was £598.3m, up 9.9% from £544.3m in the previous period, while pre-tax profits were £100.8m, up 9.8% from £91.7m.

Like-for-like sales growth was 2.2%.

The company opened 32 new stores during the period and now has 351 branches after opening a further five since the year end.

Pets at Home grew its gross margin from 52.1% to 52.3% by increasing volumes of directly imported products and improving the mix of own label vs branded pet foods and accessories.

Chief executive Nick Wood (pictured abovce), who joined from American Golf last April, hailed the firm's two acquisitions during the period.

In December it bought York-based retailer Ride-Away for £6.7m in a move to grab a slice of the £2.8bn equestrian market.

And in March last year it acquired Vets4Pets, a chain of 93 vets in a deal thought to be worth £20m, in a move which made it the second largest provider of animal health services in the UK. The company now has 228 veterinary practices under both brands.

He said: “Going forward we have opportunities to open smaller stores in smaller towns and also to infill in more densely populated areas where we already have a presence.

“We would look to open a similar number of stores to last year this year.

“I don't anticipate any more acquisitions this year. Our core focus is on organic growth and integrating the acquisitions that we have already made.”

He also highlighted the successful launch of Pets at Home's loyalty scheme, which now has more than 900,000 members.

The firm also hailed the launch of a global sourcing operation in Hong Kong and investment in new IT systems in a move to improve efficiency and support
continued growth.

Mr Wood said key areas of growth had included nutritional foods for dogs and cats, sales of reptiles and infestation treatments, with the hot, wet weather proving a boon for fleas.

Hanforth-based Pets at Home now has 6,000 staff across its retail operations and 2,000 at its vets.

Mr Wood added: “Market conditions remain challenging with disposable incomes under pressure for many of our customers.

“Against this backdrop we remain committed to delivering fantastic value and exceptional service to our customers through new stores and trading formats, new product innovation, through the services we provide and the engagement of truly committed colleagues throughout the business.”