Interpet owner Central Garden & Pet Company has recorded increased sales in the first quarter of the year, thanks to ‘robust consumer demand’.
“We delivered another quarter of strong financial results reflecting solid execution, robust consumer demand in pet and garden and the unwavering dedication of our employees,” said CEO Tim Cofer, who added that he was ‘excited about the road ahead’.
For the 2021 first quarter ending on December 26, 2020, total net sales increased 22.7% to $592.2m (£433.5m) compared with $482.8m in the first quarter a year ago, driven by organic strength in both segments.
Operating income increased to $27.0m from $2.1m in the first quarter a year ago and EBITDA increased 162.8% to $40.0m from $15.2m in the first quarter a year ago.
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The company’s net income increased $10.0m to $5.6m from a net loss of $4.4m in the first quarter a year ago.
First quarter net sales for the pet segment increased 19.0% to $436.4m from $366.6m in the first quarter a year ago, driven by strong growth, with notable contributions from dog and cat, distribution and small animal supplies.
Pet segment operating income increased to $43.5m, up 51.5% compared to the first quarter a year ago and EBITDA increased to $52.6m from $37.8m in the first quarter a year ago, primarily driven by stronger sales volume and a ‘favourable product mix’ as well as ‘overhead efficiencies’.
California-based Central Garden & Pet is home to a portfolio of more than 65 brands including products familiar in the UK such as Interpet, Blagdon, Nylabone and Kaytee and has more than 6,300 employees across North America and Europe.
