The British specialist retail group Pets at Home has reported its results for the first half of the financial year, which ended on 12 October. According to the results, sales increased by 8.6 per cent to £1.0 bn (approx. 1.15 bn euros) in the 28 weeks, exceeding the company's target of 7 per cent.
The Group's total turnover grew by 6.5 per cent to £774.2 mio (approx. 892 mio euros), with like-for-like (LFL) sales up 6.2 per cent. Vet Group sales grew by 19 per cent (LFL: 17.3 per cent), with growth accelerating in the second quarter of the first half. Retail sales rose by 5.2 per cent (LFL: 5.2 per cent). Following LFL growth of 7.1 per cent in the first quarter, sales in the second quarter were impacted by availability issues, the company announced. However, availability has now normalised and the first weeks of the third quarter have shown LFL growth of around four percent.
"Adjusted profit before tax (PBT) of £47.8 mio (approx. 55.1 mio euros) was down 19.3 per cent due to continued investment in the platform," Pets at Home emphasises.
