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LONDON (Alliance News) - Pets at Home Group PLC on Friday said it is trading broadly in line with market expectations for the full year, as revenue in the first half rose but it saw weaker-than-expected sales in some parts of the business.
The FTSE 250-listed pet products and services retailer said like-for-like sales grew 1.8% in the 28 weeks to October 8, with continued strength in its advanced nutrition, VIP Club, services and omnichannel sales, but with some weakness emerging in health and hygiene products. Merchandise like-for-like revenue increased 1.0%, while services like-for-like revenue was up 11%.
Total revenue in the half was up to GBP404.5 million, a 6.0% rise, with Merchandise revenue up 4.1% and Services revenue rising 26%.
The company said it is on track to hit its full-year roll-out targets on new stores, vet practices and grooming salons.
"Whilst trading in parts of the business has been weaker than expected, the core strategic drivers are performing well and in order to support their growth, we continue to invest in our colleagues and seamless shopping experience," said Chief Executive Nick Wood.
"As we highlighted previously, profit growth will be weighted to the second half, as the strong Health & Hygiene comparatives ease. Our full-year profit outlook is broadly in line with market expectations," Wood added.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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