Pets at Home has raised its profit expectations after reporting a continued rise in its sales.
The Cheshire-headquartered company said it now expects its full-year underlying pre-tax profits to be towards the upper end of the current consensus range of £126-136m, ahead of previous guidance of c.£131m.
The increase comes after Pets at Home saw its group revenue rise by 8.8% in the 12 weeks to January 5, 2023, to £347.5m.
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Consumer revenue rose 9%, retail sales by 8% and Vet Group sales jumped by 18.1%.
Chief executive Lyssa McGowan said: "We delivered a really pleasing Q3 with acceleration in sales momentum across the platform.
"Importantly, the quality of our growth remains strong as we continue to grow volumes and attract new consumers through offering compelling value and service, in what remains a challenging inflationary environment.
"It was particularly pleasing to see our accessories category return to growth, supported by the strong performance in our Christmas range, demonstrating that consumers still want to treat their beloved pets in these challenging times.
"Our Vet Group continued to grow its client base, adding 8,000 new clients a week in Q3, with annualised average practice revenues now reaching £1.1m.
"I am also delighted to announce the appointment of Kathryn Imrie as our new chief consumer officer, a key role as we further integrate our consumer offering. Kathryn will bring a range of critical skills and external expertise into the business.
"This completes the recent changes to our executive team and marks a step-change in our journey to build a consumer-centric, omnichannel, pet care platform.
"Creating a better world for pets and the people that love them lies at the heart of our strategy, and I am incredibly proud that our annual Christmas fundraiser, Santa Paws, raised an incredible £2.1m for charities."
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