Not just for Christmas: Pets at Home raises profit outlook after December growth
Pets at Home has raised its full year profit guidance after recording impressive sales growth during December.
The country’s leading pet care firm said that it now expected profit for the year to come in at £77m, despite the voluntary repayment of £28.9m in business rates relief.
In a trading update this morning, the company said that it had achieved high teens like-for-like sales growth last month.
“While renewed Covid-related restrictions on a national level may constrain trade, we remain an “essential” retailer and the measures we continue to take across our stores, veterinary practices and online operations are ensuring we remain in a strong position to meet all of our customers’ pet care needs”, it said.
The FTSE 250 firm also said that it had strengthened its balance sheet through an initial £80m in proceeds from the sale of five specialist referral practices in December.