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Pets at Home improves EBITDA by 10%

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Pets goods retailer Pets at Home increased its profitability by expanding stores and services over the last year, according to results published today.

In the 53 weeks to March 31st 2011 EBITDA rose 10.3 per cent year-on-year to total £93 million whilst margins were maintained over the period.

Store numbers grew by 25 to 281 by the end of the year helping total sales to grow by 10.7 per cent but underlying like-for-like trade increased 1.8 per cent compared to the previous year.

Matthew Davies, CEO of Pets at Home, commented: “Despite the extremely challenging economic climate, we continued to maintain our track record of growth throughout 2010, increasing turnover, profits and opening new stores.”

Key strategic advances made during the year included the launch of a new local store format in two locations, 14 new grooming salons and 14 Companion Care in-store veterinary practices.

In November Petsathome.com launched a click & collect service and more recently the retailer unveiled a customer insight programme to collect and analyse feedback from visitors to its stores.

Davies added: “Our strategy of opening new stores whilst exciting our customers through product innovation and outstanding customer service continued to support our long-term growth aspirations.

“This strategy remains unchanged and whilst the challenges for customers in the current economic climate show no signs of abating, we remain confident that we can continue to maintain momentum in the forthcoming year.”

Published on Friday 08 July by Editorial Assistant

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