Belfast Telegraph

Pets at Home profits climb as prices cut

By Ravender Sembhy

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."

Belfast Telegraph