Shares in Pets at Home Group gained ground yesterday after the retailer said it remained on track to meet its expectations for the full year on the back of another strong trading update.
The FTSE 250-listed retailer said revenue in the 12 weeks to 1 January grew 7.8 per cent to £182.2m, buoyed by merchandise revenue growth of 6.5 per cent to £168.2m.
It now has 308 veterinary practices open and 160 Groom Rooms for pampered pets and is on target to open 25 new stores in the year to the end of March.
“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, Pets at Home chief executive.
Shares in the group closed up 3.5 per cent at 210p.