Life and Style news - Pets At Home see a rise in profits

PETS At Home is expected to say that a rise in pampering has helped its profits surge 94% to £41million for the first half of the year.

PROFITS: Pampering pets has boosted firm's sales by 10% [SNAP ]

The company, which floated in March, will also say that total sales rose 10.2% to £381.5million for the six months to the end of October, with like-for-like sales up 4.2%.
The retailer has been buoyed by a surge in demand for its Groom Rooms. They offer dogs and cats treatments including baths, ear cleaning, nail clipping and breath freshening.

“Pets At Home maintains a strong position, about 12% market share, in a resilient and growing £6billion UK pet care industry and should consolidate its leading position”

Tusher Jasin, Bank of America Merrill Lynch analyst

Its veterinary practices, stores and loyalty scheme have also helped to boost sales. Bank of America Merrill Lynch analyst Tushar Jain said: "Pets At Home maintains a strong position, about 12% market share, in a resilient and growing £6billion UK pet care industry and should consolidate its leading position.
"It should also benefit from the maturation of both the vets and groomer businesses over the next few years." City analysts expect it to open at least 25 new stores, 60 vets and 50 Groom Rooms in the year.
The company also hopes to cash in with its latest Christmas range for pets, which includes stockings, advent calendars and novelty jumpers. In October chief executive Nick Wood said: "Positive momentum across the business gives us confidence in our ability to deliver on our expectations for the financial year."