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Pets at Home results show record sales

ended 25. May 2023

Pets at Home Group has announced record sales in its 2023 Preliminary results, published this morning:

  • Total Group revenue growth of 6.6% to £1,404.2m, with Group like-for-like# (LFL) revenue up 7.9%, with quarterly LFL# accelerating sequentially throughout the year. 
  •  Vet Group revenue increased by 13.3%, with LFL# revenue up 13.4%. Across our general practices we are now consistently delivering in excess of £10m consumer revenue# per week. 
  • Retail revenue growth of 5.9%

Here's a link to the results:

https://investors.petsathome.com/media/31vaq3p0/pets-at-home-fy23-prelims-rns-vfinal-combined.pdf

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Editor
Samuel Mather-Holgate
Independent Financial Adviser at Mather and Murray Financial
Pets at home continue to see excellent growth. During covid there was a boom in pet ownership and, as we know, a dog is for life, so these profits won’t have been a one-off. Of course, the costs of owning a pet have also increased as inflation embedded itself into this sector as well. I would expect these financials to be stable over the next few years, but increasing profit further over the next 12 months will be tough as customers feel the pinch.