Pets at Home profits climb as prices cut
Sales at Pets At Home were boosted by price reductions and the success of its veterinary service last year. Pre-tax profits rose by 5.8% at the business, which has 10 stores in Northern Ireland, hitting £95.4m in the year to March, off the back of a 7.2% growth in sales to £834m.
Revenues at the group's veterinary arm rocketed 25% to £47m, with like-for-like sales rising 1.5% across the group.
The firm said it had launched price reductions "across a number of everyday pet essentials" and was "also starting to reposition prices in branded foods".
George Salmon, an equity analyst at Hargreaves Lansdown, added: "Pets At Home has a leading position in a reliable and growing market.
"It offers pretty much exactly what you would want when tasked with picking up some goodies for your pet - a clean and efficient service."