Pet supplies retailer reports revenues in excess £1.3 billion

Stockport headquartered pet supplies retailer, Pets at Home, has seen group revenue rise 15.3% to more than £1.3 billion in the financial year ending 31st March 2022.

The group has attributed its performance to the continued strong market growth within the pet care sector, which was buoyed by the pandemic, and reported increased sales across its retail stores, online, and in veterinary brand, Vets for Pets. Online sales now account for just under 16% of retail sales.

Pre-tax profits are also set to rise to £131 million, up just under £5 million on the previous year’s results and enable the business to continue to protect customers from inflationary pressures in the global supply chain.

Peter Pritchard, Group Chief Executive Officer who is soon to step down from the group, commented:

“Despite another period characterised by significant and evolving external challenges, our performance this year has been noteworthy, delivering record sales, profit, and cash flow. I would like to express my heartfelt thanks to our truly inspiring colleagues and Partners across the Group for their continued adaptability and commitment to making Pets at Home bigger, stronger, and more efficient.

“We are well placed to accelerate our growth in market share. The robust backdrop of the UK pet care market, coupled with our clear strategic priorities, proven omnichannel model and strong Executive Team, mean that I hand over leadership of this great business to Lyssa McGowan with the utmost confidence that Pets at Home will continue to create value for all stakeholders in both the near and longer-term.”