Higher revenues and customer retention a treat for Pets at Home

Pets at Home announces higher revenues and greater customer retention in its financial year statement for 2023’s first quarter.

The pet supplies company expects revenue to rise to £404.7m, with its customer base expanding. The company expects retention of 1.1m customers gained last year.

The company’s balance sheet has net cash of £40.2m and a revolving credit facility until 2027, as it moves towards its £50m share buy back programme.

“Our performance has remained strong in the first quarter, underpinned by continued customer growth and high levels of retention,” CEO Lyssa McGowan said. 

“We operate a unique omnichannel model, in a market in structural growth, where the passion and expertise of our colleagues and partners is a key competitive advantage.”