Profits edge close to £100m for pet retailer

Profits edge close to £100m for pet retailer
Now has 427 stores across the country

CHESHIRE-based pet products retailer Pets at Home has said it expects full year pre-tax profits to fall between £93m and £97m.

Revenues are around £793m for the year to the end of March 2016 – and 8.8% increase on the previous year.

The company opened another 27 stores during the period, taking the portfolio total to 427 and almost 60% of its stores now include a vets practice.

Ian Kellett, chief executive, said: “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.

“Our highly trained colleagues are fundamental to achieving these results and I would like to extend my thanks for their dedication and support throughout the year.”

Earlier this month the company reversed its decision to appoint Graeme Jenkins as chief financial officer after Jenkins’ former employer Wesfarmers admitted to accounting errors at its Target Australia subsidiary, where Jenkins was previously finance chief.

It has appointed Mark Adams as interim chief financial officer whilst it seraches for a permanent replacement.

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