Pets at Home, the British retail specialist, has disclosed its financial outcomes for the initial half of the fiscal year, concluding on October 12. The results showcase a noteworthy 8.6% surge in sales, reaching £1.0 billion (approximately 1.15 billion euros) over the 28 weeks, surpassing the company’s preset target of 7%.
In terms of the Group’s overall turnover, there was a notable 6.5% upswing, tallying £774.2 million (approximately 892 million euros), accompanied by a 6.2% increase in like-for-like (LFL) sales. The Vet Group experienced a robust 19% sales growth (LFL: 17.3%), notably picking up momentum in the second quarter of the first half. Retail sales also demonstrated an ascent of 5.2% (LFL: 5.2%). Despite facing availability challenges impacting sales in the second quarter following a robust 7.1% LFL growth in the first quarter, the company reports a normalization of availability. The initial weeks of the third quarter indicate a LFL growth of approximately four percent.
Pets at Home underscores that the “Adjusted profit before tax (PBT) of £47.8 million (approximately 55.1 million euros) was down 19.3% due to continued investment in the platform,” highlighting their ongoing dedication to strategic investments in platform development.
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