The Helsinki-based pet retailer Musti celebrates the best quarter in its history with a turnover of €101.8 million ($112.5M). This marks an increase of 10%.
From October 2022 to March 2023, the first half of its financial year, the company achieved sales of totaled €212.1 million ($234.3M) and operating profit of to €17.2 million ($19M), a 10.1% increase.
Pet food account for more than 50% of sales which is caused by periodic buying habits. Purchases of accessories follow a positive trend whereas categories like treats and hygiene had a “relatively steady growth“.
According to CEO David Rönnberg, Musti’s performance is “a very strong achievement given the macro-economic environment.”
The company could increase its sales in all three countries: Norway (+15.5), Finland (+10.9%) and Sweden (+7.2%).
Musti has celebrated the opening of 18 new stores since January. Furthermore, the customer base grew by 10.1% to 1.5 million. The comany expects to achieve net sales of €500 million ($552.6M) by 2024.