The Continued Growth Of Pets At Home
UK Pet retail chain Pets at Home, has reported a 36% increase in profit before tax for the twelve months to the end of March 2010 on a turnover of almost £470m.
Last year the specialist pet products retailer we opened 24 new stores, bringing its total to 256. It also opened new aquatic centres in 4 stores and new veterinary practices in 8 stores, bringing the total to 59. Last year the company also relaunched its online shopping site.
Excluding exceptional items, new openings etc., Pets at Home reports resession defying like for like sales up 8.8%
Founded by Anthony Preston, Pets at Home opened its first store in Chester in 1991. After its acquisition of Petsmart in 1999 the chain stood at 140 stores. Preston later (2004) sold out to private equity company Bridgepoint. In 2008 Bridgepoint announced that due to the prevailing economic climate, it had abandoned plans to float the company.
Earlier this year, in January, Pets at Home was bought by private equity firm Kohlberg Kravis Roberts for £955m.