It has been a great 12 months for the UK’s biggest pet shop group, Pets at Home as they announce a 10% increase in full-year earnings as well as the opening of 25 extra stores over the next year.
Figures show that sales at stores have increased by 4.2% which include strong nutrition and health lines and extra services such as veterinary care and grooming, whilst merchandise income increased by 8% to £666.1 million and the firm’s own-brand pet food increased 44% to £40.1 million.
Chief executive officer, Nick Wood said: “I am delighted to announce another year of progress as we continue to deliver on our targets for growth, with strong cash flows allowing us to deliver a dividend payment at the top end of our commitment,” adding “with our business growing strongly, we have decided that now is the right time to implement a new divisional structure to drive performance further. It’s a sign of our strength that we have two people of the calibre of Ian Kellett and Sally Hopson to take responsibility for our retail and services divisions, as we look forward to another year of expansion and profitable growth.”
Pets at Home are aiming to have 500 stores, 700 veterinary practices and 300 groom rooms in the medium term.
