LONDON (Alliance News) - Pets at Home Group PLC on Wednesday said it remains on track to meet its full year expectations, after reporting a rise in revenue in its financial third quarter.
The FTSE 250-listed retailer said revenue in the 12 weeks to January 1 grew 7.8% to GBP182.2 million, buoyed by merchandise revenue growth of 6.5% to GBP168.2 million, with growth in its food segment continuing to outpace accessories, and services revenue growth of 26% to GBP14 million.
On a like-for-like basis, revenue rose 4.1%, with merchandise revenue up 3.4% and services revenue up 15.6%.
Fee income from its joint venture veterinary practices rose 32.9% to GBP6.4 million, the company said.
It said its gross margin improvement remains in line with its guidance for the year and said it is still trading in line with its full year expectations.
"We are very pleased with the continued growth in like-for-like sales. This reflects the strength of our offer, the multiple levers through which we can drive growth, and the resilience of the pet products and services market," said Nick Wood, Chief Executive Officer of Pets at Home.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Pets at home (PETS)