Friday 8 January 2021 7:42 am

Not just for Christmas: Pets at Home raises profit outlook after December growth

Pets at Home has raised its full year profit guidance after recording impressive sales growth during December.

Read more: Pets at Home becomes latest retailer to return business rates relief

The country’s leading pet care firm said that it now expected profit for the year to come in at £77m, despite the voluntary repayment of £28.9m in business rates relief.

In a trading update this morning, the company said that it had achieved high teens like-for-like sales growth last month.

“While renewed Covid-related restrictions on a national level may constrain trade, we remain an “essential” retailer and the measures we continue to take across our stores, veterinary practices and online operations are ensuring we remain in a strong position to meet all of our customers’ pet care needs”, it said.

The FTSE 250 firm also said that it had strengthened its balance sheet through an initial £80m in proceeds from the sale of five specialist referral practices in December.

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