Shares of Chesire-based Pets At Home, the retailer of pet food, accessories and veterinary services, rose about 9% after it reported revenue growth of 9.6% to £223.3 million in the 12 weeks to January 4.

According to Bloomberg data, shares of Pets At Home rose to around 200p to give the firm a current stock market value of just under £1 billion.

In a trading update, Pets At Home said merchandise revenue grew 9% to £193.4 million and services revenue rose 13.6% to £29.9 million including joint venture vet practice where income was up 19.3% to £12.1 million.

The company said it opened two Pets at Home superstores, two Vets4Pets practices and five Groom Room salons.

It said it is on track to deliver full year opening targets of around 10 superstores, 40-50 vet practices and 20-30 grooming salons.

However, it said its Barkers dog spas and salons store trial “has reached its conclusion” — and existing Barkers stores will be closed over the coming year.

Exceptional costs of about £2 million “are expected in the FY18 income statement in relation to lease commitments and the write down of fixed assets.”

Pets At Home CEO Ian Kellett said: “I’m happy to report further progress in the third quarter, where trading momentum in our merchandise division built over the Christmas period.

“In the year since we launched our lower pricing initiatives we have seen a really strong customer response to the investments we have made.

“At the same time, we continued to deliver strong growth in our veterinary business across both first opinion practices and specialist referral centres.”