Pets at Home upgrades profit guidance as third-quarter revenue rises 5.8%

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Pet products and veterinary services group Pets at Home upgraded its annual profit guidance after its third-quarter revenue grew 5.8% year-on-year.

Underlying pre-tax profit for the year through March, excluding any potential impact from accounting changes, was now expected to rise to at least £140 million.

That was compared to the company-compiled consensus estimate of analyst expectations of £135 million, with a range of £134 million to £137 million.

Revenue in the three months through December increased to £319.4 million, with year-on-year growth on a like-for-like basis of 8.7%.

'Our unique, omnichannel pet care strategy continues to deliver strong revenue growth, reflecting continued momentum in customer acquisition, engagement and spend as the benefits of our ongoing investment in capacity and capability really start to deliver,' chief executive Peter Pritchard said.