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Board changes for Pets at Home as profits grow by £5m
Retailer Pets at Home Group Plc has increased its profits by just over £5m in the latest financial year.
For the 52 weeks to March 30 2017, the Cheshire-headquartered firm reported a statutory profit of £95.4m before tax, up 5.8% against the year previous.
Pets at Home’s group revenue grew year on year by 7.2% to £834.2m.
Of the sales total, merchandise accounted for £716.7m, up 2.9% in comparison to the 2015/16 financial year, while services grew by 44.5% to £117.5m.
FY2017 saw Pets at Home blaze forward with its UK-wide expansion plans, opening 15 new superstores, 50 veterinary practices and 50 grooming salons. The company also acquired two vet referral centres.
As a result of the growth, Pets at Home now operates a network of 442 pet stores.
Group CEO Ian Kellett said: “We are uniquely positioned as the only UK pet business delivering an integrated omnichannel and services offer, supported by our fast growing vet group, market leading private labels and expert colleagues.
“In an evolving consumer environment, we are taking steps to reposition prices on own label advanced nutrition and pet essentials and have made some initial changes to branded food lines.”
He continued: “Encouraged by the reaction of our customers and having seen an improvement in merchandise like-for-like to 1.0% in the 16 weeks since launch, we will move swiftly to deliver even better value. Read more
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