HomePet healthPets at Home raises profit guidance to £140m

Pets at Home raises profit guidance to £140m

This pets at home The group reported total group revenue rose 5.8% year-on-year to £319.4m in the 12-week period from October 8 to December 30 2021, the group has now raised its full-year pre-tax profit forecast for FY22 to £140m.

Group like-for-like revenue rose 8.7% year-on-year and 28.1% in two years despite supply chain pressures.

In addition, the group’s online revenue grew 16.7% year-on-year and 99.3% in two years.

Meanwhile, retail revenue was up 9.8%, and like-for-like revenue was up 9% from pre-COVID-19 levels. Store revenue also increased by 7.4% year-on-year and 21.1% in two years, and its veterinary group revenue also increased by 4%, up 23.3% from 2019.

Pets at Home says ‘strong’ sales growth in ‘key’ categories and channels, as well as continued pets Humanize And premiumization supported “record” sales in the seasonal range.

In particular, the number of pet care plan subscriptions across the group saw “strong growth” year-on-year, with more than 1.4 million plans now generating more than £115 million in annualised recurring customer revenue.

Group Chief Executive Peter Pritchard said: “Our unique omni-channel pet care strategy continues to deliver strong revenue growth, reflecting continued momentum in customer acquisition, engagement and consumption, as our commitment to capacity The benefits of continued investment in capabilities and capabilities really start to kick in.

“We are on track to achieve record sales and profit growth, and I am very grateful to all our wonderful colleagues and partners across the Group for their hard work and commitment to helping us become the best pet care business in the world.”

He added: “I remain confident that our strategic investments, the strength and depth of our exceptional leadership team and successful initiatives to improve operational efficiency across the group will support sustainable, long-term and profitable growth.”

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