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Pets at Home welcomes near 8% surge in revenue
StockMarketWire.com
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The British pet supplies retailer Pets At Home GRP - announced a revenue growth of 7.9% (to £1,142.8 million), and its retail revenue figure hit £1 billion for the first time, with 8.7% growth during the year, despite Covid-19 restrictions.
But the groups underlying profit before tax was £87.5 million, a 6.4% decline. The decline is expected to be the result of covid-related impacts on profits of approximately £30 million and repayment of £28.9 million of business rates relief.
The company also reported a final dividend per share of 5.5p, an increase of 10% year over year, giving a total dividend of 8.0p for the year, up 7%.
Despite challenges to how we were able to do business, we grew our market share across all channels and our underlying growth trajectory accelerated. Our loyalty clubs saw record periods of new customer registration, strong growth in subscription customers increased the visibility and quality of our sales profile&, said Peter Prichard, group CEO.
The group estimated an 8% increase in UK pet ownership over the past year and this has raised the outlook for growth.
At 8:19am: (LON:PETS) Pets AT Home Group PLC share price was 0p at 388.2p
Story provided by StockMarketWire.com
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