21st Apr 2016 06:49
LONDON (Alliance News) - Pets at Home Group PLC on Thursday reported growth in revenue in its recently-ended financial year, driven by a good performance in both its merchandise and services divisions and as it added 1.3 million members to its VIP club.
The pet products and services provider said group revenue in the year ended March 31 grew to GBP793.1 million from GBP729.1 million the year before, as like-for-like revenue grew by 2.1%.
By division, merchandise like-for-likes were up by 1.4% and services like-for-likes increased by 10%. Merchandise revenue rose to GBP710.2 million from GBP666.1 million, and services revenue grew to GBP82.9 million from GBP63.0 million.
During the year, Pets at Home opened 20 new superstores, 50 vet practices and 60 grooming salons. It also opened six Barkers specialist dog stores and one Whiskers 'n Paws trial format store. Pets at Home now has 427 stores, 388 vet practices and 240 grooming salons.
Membership in the company's VIP club loyalty scheme grew by 1.3 million people to 4.5 million.
Pets at Home added that full-year pre-exceptional pretax profit is expected to be in line with market expectations ranging between GBP93.0 million and GBP97.0 million.
"With group like-for-like revenue growth of 3.2% in the final quarter, we are pleased with the continued positive sales momentum in our merchandise business and have seen excellent performance in both our vet practices and grooming salons," Chief Executive Ian Kellett said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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