Pets at Home Surges 65.3% in Pre-Tax Profits to £144.7m

  • Pets at Home reports record year as profits surge
  • Underlying pre-tax profits grew by 65.3% to £144.7m for the year to March 2022
  • Retail revenue increased by 18.5%
  • Store and online sales rose by 17.7% and 18.4% respectively
  • Total group revenue grew 15.3% to £1.3bn
  • 1.2m new puppy and kitten customers added
  • Like-for-like store sales up 15.8% year-on-year to £984m
  • Ominchannel sales rose 15.9% in like-for-like terms to £190m
  • Anticipates FY23 group underlying pre-tax profit in line with analyst consensus (£151m)
  • FY23 group underlying pre-tax profit expected at £131m compared to £126.4m for FY22 on a 52-week basis
  • CEO Peter Pritchard praises colleagues and Partners for adaptability and commitment

Pets at Home has reported a significant increase in profits, with underlying pre-tax profits surging by 65.3% to £144.7m for the year ending March 2022. Retail revenue grew by 18.5%, and store and online sales rose by 17.7% and 18.4% respectively. The company’s total group revenue increased by 15.3% to £1.3bn, with an additional 1.2 million new puppy and kitten customers contributing to the growth. Like-for-like store sales reached £984m, a 15.8% increase year-on-year, while omnichannel sales rose by 15.9% in like-for-like terms to £190m. The company anticipates that FY23 group underlying pre-tax profit will be in line with analyst consensus (£151m) and expects a FY23 group underlying pre-tax profit of £131m, compared to £126.4m for FY22 on a 52-week basis. CEO Peter Pritchard praised colleagues and Partners for their adaptability and commitment, expressing confidence in the company’s future growth.

Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about Pets at Home’s financial performance, including pre-tax profits, retail revenue growth, total group revenue, and future expectations. It also includes a quote from the CEO that adds context to the company’s success.
Noise Level: 2
Noise Justification: The article provides relevant information about Pets at Home’s financial performance and growth, including profit increases, revenue growth, and customer numbers. It also includes a statement from the CEO about their future outlook and leadership transition. The content is focused on the topic and supports its claims with specific figures.
Financial Relevance: Yes
Financial Markets Impacted: The financial performance of Pets at Home, a pet supplies retailer, impacts its stock price and may affect related companies in the pet care industry.
Financial Rating Justification: This article discusses the company’s financial performance, including pre-tax profits, revenue growth, and future profit expectations. It also mentions the CEO’s confidence in the company’s growth potential, which could impact related stocks and the pet care industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.

Reported publicly: www.retailsector.co.uk