Pets at Home Q1 revenue up 26% to £378m

Wilmslow-based pet and vet retailer Pets at Home Group said on Thursday its first quarter revenue grew 25.7% to £377.8 million in the 16 week period from March 26 to July 15, 2021, despite a “challenging cost environment.”

In a trading update, Pets at Home said: “Based on trading year to date we now anticipate that full-year group underlying pre-tax profit will be £130m, at the top end of the current range of analyst expectations, representing a £42.5m (+49%) increase on the prior year.”

Pets at Home Group CEO Peter Pritchard said: “It is pleasing to note that many of the positive trends from our last financial year have accelerated in the current quarter.

“Key indicators point to continued growth in pet ownership, providing a supportive backdrop to long-term growth across the underlying market and our business, and we continue to see strong growth in new customers, subscription plans and veterinary clients …

“Our unique, omnichannel pet care strategy continues to deliver, with strong momentum across both sides of our business, as well as good progress against our strategic priorities, meaning we look to the future with much confidence.”