Pets at Home has revealed that its performance over the past eight weeks has been ahead of expectations, with continued strong and broad-based growth across all channels and categories.
The UK’s largest pet retailer issued a trading update today (Friday), stating it now anticipated its full-year underlying pre-tax profit, including the previously announced repayment of business rates relief of £28.9m, to be approximately £85m, ahead of its previous guidance of at least £77m.
In its an update on trading during the fourth quarter of the company’s current financial year, Pets at Home said: “In our last trading update on 8 January 2021, our guidance for full-year profit out-turn reflected a number of ongoing uncertainties over the near-term outlook, including renewed challenges from higher covid infection rates and restrictions on a national level, as well as potential supply disruption relating to the UK’s exit from the European Union.
“Notwithstanding this challenging external environment, our performance over the last eight weeks has been ahead of expectations, with continued strong and broad-based growth across all channels and categories.
“While recent positive progress around vaccinations for covid-19 reduces the level of uncertainty ahead, our priority remains safeguarding the health, safety and wellbeing of all of our colleagues, partners and customers.”
The group will announce its FY21 preliminary results on Thursday, May 27.
