PAM­PERED POOCHES BOOST PROFITS FOR PETS AT HOME

Scottish Daily Mail - - City & Finance -

PETS At Home up­graded its profits fore­cast yes­ter­day, re­veal­ing that pets are still be­ing pam­pered even as their own­ers cut back else­where.

The firm groomed more than 460,000 dogs in the past six months – more than 2,350 a day – and had 790,000 sub­scribers to its pet care pack­ages. It said cus­tomers were still spend­ing in their stores ‘de­spite all the mad­ness’ on the High Street.

Sales were up 7.6pc to £546.3m in the first half of its year while profits soared from £8m to £34m.

Pets At Home has clocked up 11 con­sec­u­tive quar­ters of sales growth, and said its strat­egy – to make it­self a one-stop shop for all pet needs, in­clud­ing ad­vice, vet care and groom­ing – was work­ing de­spite on­line com­pe­ti­tion.

On the back of the re­sults, the com­pany’s shares rock­eted more than 16.1pc, or 34.6p, to 249p, its high­est level for more than three years.

Chief ex­ec­u­tive Peter Pritchard said: ‘Peo­ple con­tinue to spend on their pets de­spite all the mad­ness out­side.’

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