Pets at Home announces higher revenues and greater customer retention in its financial year statement for 2023’s first quarter.
The pet supplies company expects revenue to rise to £404.7m, with its customer base expanding. The company expects retention of 1.1m customers gained last year.
The company’s balance sheet has net cash of £40.2m and a revolving credit facility until 2027, as it moves towards its £50m share buy back programme.
“Our performance has remained strong in the first quarter, underpinned by continued customer growth and high levels of retention,” CEO Lyssa McGowan said.
“We operate a unique omnichannel model, in a market in structural growth, where the passion and expertise of our colleagues and partners is a key competitive advantage.”