Pets at Home posts 9% rise in revenue
 |
Pets at Home has been boosted in its half-year performance by fee income from its joint venture vet practices and other services.
Total revenue in the six months to October 13 grew 9% to £441.3 from £404.5m while pre tax profits grew 3.9% to £47m from £45.2m.
Turnover from its services was the most impressive, up 47.6%, bringing in £61.9m compared with £41.9m on the same period last year.
Meanwhile, the company opened eight new superstores, 17 vet practices and 18 grooming salons in the period. Nearly half of all superstores now have both a vet practice and grooming salon.
The company also reported seamless shopping omnichannel investment delivering results with order volumes and basket spend increasing.
Group chief executive Ian Kellett said: “We have again demonstrated strong performance in services, with 47.6% revenue growth.
“We have also seen robust trading in merchandise where health & hygiene sales returned to a more normalised level after a poor season last year.
“We are pleased that our investment in seamless shopping is delivering results with increased volumes, basket spend and the launch of our first subscription service.
“In a more difficult trading environment, we continue to build Pets at Home for the future and are confident in the long term outlook for our unique offer in the resilient pet market, in particular, the developing potential of our services business as we see it mature and grow."
The listed company has also announced that non-executive director Brian Carroll will resign from the board on December 2. Carroll has been a director of Pets at Home since 2011.
|
|
