Pets at Home upgrades its profits forecast

The Pets at Home Group, the UK’s leading pet products retailer, has published a trading update for the 12-week period up to 5 January.

According to this, group turnover increased by 8.8 per cent to GBP 347.5 mio (approx. 393.2 mio euros). Group turnover on a comparable store basis increased by 8.3 per cent. “The trend in the gross margin was in line with management expectations,” says the retail group. Consumer sales rose in the third quarter by 9 per cent as compared with the previous year.

For the current fiscal 2023, the group now expects adjusted profits before taxes to lie at the top end of the current consensus range of GBP 126-136 mio, thus exceeding the previous forecast of around GBP 131 mio.