LONDON (ShareCast) - (Sharecast News) - British pet care business Pets At Home told investors on Friday that full-year underlying earnings looked set to come in ahead of market expectations after revenues continued to grow over the sixteen weeks ending on 18 July.
Pets At Home saw group revenues increase 9.9% to £303.4m, with retail picking up 8.7% to £266.4m and veterinary revenue advancing 18.8% to £37m. Like-for-like revenues meanwhile grew 8%.

As a result of the good transaction and cash growth in its retail unit and the in line underlying performance in its vet wing, the AIM-listed outfit now expects underlying profits for the year, before IFRS16 impacts, to be "slightly above" current market expectations.

Pets At Home said it had introduced more customers to its complete pet care offer during the period, allowing it to take "a greater share of their overall spend".

Chief executive Peter Pritchard said: "The momentum with which we exited FY19 has continued into the first quarter of FY20.

"At this early stage in the year, and with ongoing uncertainty across the wider retail sector, we remain cautiously optimistic and focused on delivering our pet care strategy."

As of 0825 BST, Pets At Home shares had picked up 3.90% to 224p.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE