Pets at Home defies the gloom

THE country may be deep in recession but it seems we are still a nation of animal lovers as the UK biggest pet shop revealed a bumper hike in profits.

Handforth-based Pets at Home said in the 12 months to March 26, pre-tax profits before exceptional items increased by more than 29% from £30.9m to £39.9m, while turnover was up 14% to £404.2m.

During the period, Pets at Home opened 19 new stores, bringing the number to 232, as well as launching aquatic centres is six outlets.

It also opened nine in-store veterinary practices, and fee income from its vets business increased by 7%.

Pets at Home said that it introduced more than 200 new food products into the stores, and added its own-brand ranges have performed particularly well.

Matthew Davies, chief executive of Pets at Home, said: “2008 was another strong year for Pets at Home. Despite unprecedented economic headwinds, we worked hard to delight our customers with the quality, innovation and value for money of our products.

“We enter the current year with caution, but our strong market position and track record of growth, gives us confidence.”