News Pets At Home Profits Reach 70 2m



Pets at Home profits reach £70.2m
23rd November 2021

By Justine Thompson

Pets at Home has reported an 18% increase in total group revenue to £677.6m in a 28-week period to October with a continuing rise in customer numbers underpinning strong volume growth.

The interim financial figures released today (Tuesday) show group underlying profit-before-tax growth of 77.2% to £70.2m.

There has been sustained momentum across Pets at Home’s omnichannel pet care ecosystem with a 13% increase in active VIPs and a 107% increase in Puppy and Kitten Club members.

The group is also on track to report a record year of sales and profit growth and its biggest ever Christmas as owners treat their new pets.

Group CEO Peter Pritchard said: “Our business has never been more robust. Our pet care strategy continues to deliver, we continue to take market share and improve spend per customer and the benefits of our investment in capacity and capability are really starting to deliver.

“Notwithstanding some near-term, industry-wide challenges, we continue to grow ahead of our plans and, based on trading year to date, we are on track to report a record year of sales and profit growth.

“I am very proud of the progress we are making and was particularly pleased to note external recognition of our collective efforts through our recent Retail Week awards as Best Retailer and Best Place to Work 2021. I would like to express my sincere thanks to all our colleagues and Partners across the Group for their tireless work and dedication.”

Despite challenges in the near-term operating environment relating to supply, logistics and labour availability, Pets at Home believes it is  well placed to manage any such problems, having adapted its operations.

The majority of its product range is sourced domestically on long lead times and is neither perishable nor seasonal. Inventory levels across the group’s distribution centres are good, with range breadth in stores and online enabling good levels of product substitution, where required.