26th Feb 2021 08:45
(Alliance News) - Pets At Home Group PLC on Friday reported continued strong performance during the final quarter of 2020, resulting in upgrade to full-year outlook.
Pets At Home shares were trading 3.2% higher in London on Friday morning at 395.40 pence each.
The FTSE 250-listed pet care company said it now anticipates full-year underlying pretax profit, including the previously announced repayment of business rates relief of GBP28.9 million, to be GBP85 million, which is ahead of its previous guidance of at least GBP77 million.
For the year to the end of June 2020, Pets At Home posted underlying pretax profit of GBP99.5 million.
The company explained that its previous guidance guidance reflected a number of ongoing uncertainties over the near-term outlook, including renewed challenges from higher Covid infection rates and restrictions on a national level, as well as potential supply disruption relating to the UK's exit from the EU.
"Notwithstanding this challenging external environment, our performance over the last eight weeks has been ahead of expectations, with continued strong and broad-based growth across all channels and categories," Pets At Home said in its statement Friday.
By Evelina Grecenko; [email protected]
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