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Pets At Home Q3 Revenue, LFL Revenue Up; FY Profit View In Line With Market

Pet care business Pets at Home Group Plc (PETS.L) reported Wednesday that its third-quarter group total revenue increased 7.9 percent from last year to 255.9 million pounds. Group like-for-like revenue growth was 7.2 percent.

In its trading update for the 12 week period to January 2, the company reported that retail revenue increased 7.2 percent, with omnichannel revenue up 23.4 percent. Retail like-for-like revenue growth was 7 percent.

Vet Group revenue went up 14.4 percent and like-for-like revenue growth was 8.9 percent.

Looking ahead, the company said it is on track with its plans for fiscal 2020. The company continues to expect Group underlying profit before tax, before the impact of IFRS164, in line with current market consensus of 93 million pounds, with a range between 87 million pounds and 101 million pounds.

Peter Pritchard, Group Chief Executive Officer, said, "Our sales performance in the quarter proves once again that by offering convenient and affordable pet care to customers, we can further strengthen our market leading position. Against a backdrop of unprecedented consumer volatility, our continued momentum leaves us very much on track with our plans for the year."

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