Pet products retailer Pets at Home has seen a like-for-like sales uplift of 1.3 per cent in its full financial year as turnover grew 7.1 per cent to £544.3 million, according to figures released today.
Following investment in expansion of its stores and services, including its vet practices and grooming salons, EBITDA rose 0.5 per cent to £91.7 million in the 52 weeks to March 29th 2012, and the retailer‘s recently appointed CEO Nick Wood, who took up his role in June, welcomed the results.
“In a year of significant capital and revenue investment and against a challenging economic and retail background it is extremely pleasing to report further growth in turnover and profit.
“Encouragingly, from these investments we have built good momentum into the current financial year with like for like sales growth of 3.2 per cent for the first half of the year to 11 October 2012.”
During the year, Pets At Home has opened 32 new stores and commissioned its second distribution centre to operate alongside the Hong Kong support office which opened earlier this year to drive its global sourcing operation and product offer.
EBITDA margin stood at 16.8 per cent, reflecting the cost of the second distribution distribution centre which was commissioned over the period.
Improving product ranges has also been a key part of the retailer‘s strategy and it has introduced various ranges for cats and dogs as well as product personalisation.
Pets At Home employs 5,900 staff across 331 stores and was ranked second in The Sunday Times Best Big Companies To Work For in 2012, which the retailer said supports its internal measures” to provide the highest levels of customer service”.
Wood added: “We have made strong progress in the first half of the current financial year with strong returns from areas where we have invested in particular in range and merchandising development in dog and cat advanced nutrition.
“Whilst there remains a great deal of uncertainty for consumers with little prospect of any real improvement in disposable incomes in the near future, we remain focused on delivering exceptional value for our customers.
“We believe that this, together with new stores and trading formats, new product and service innovations and the continued exceptional engagement of our colleagues will be the basis of another year of growth.”