29th Jul 2021 14:47
Pets At Home Group PLC - Cheshire, England-based animal products retailer - Reports that a "continuation of strong sales momentum" has carried into the first quarter of financial year 2022. For the 16 week period ended July 15 posts revenue up 26% year-on-year to GBP377.8 million.
First quarter Retail revenue growth is up 29% from a year before while revenue from its Vet Group division rises 45%. The company notes the "robust" UK pet care market along with the ongoing increase in pet ownership in creating a "long-term tailwind for growth".
"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," comments Chief Executive Peter Pritchard.
Current stock price: 481.20 pence, down 4.0% Thursday
Year-to-date change: up 16%
By Will Paige; [email protected]
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