Pet profits up 36 per cent

RETAILER Pets at Home today proved once again that the UK is a nation of animal lovers after lifting annual profits by more than a third.

The Cheshire-based company - the subject of a 950m buyout by private equity giant Kohlberg Kravis Roberts (KKR) in January - said underlying pre-tax profits jumped 36 per cent to 54.2m in the year to March 25.

The firm sells a host of pet food and accessories for a range animals, including England kit dog coats now selling at a "knockout" 1 each following the nation's World Cup exit.

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The company, which has 256 stores after opening 24 last year, added that like-for-like sales grew 8.8 per cent - up from 7.5 per cent for the previous 12 months.

Chief executive Matthew Davies said the company had continued its "strong momentum" throughout the year.

He said: "Despite the continued economic uncertainty, we have attracted more customers to our stores and excited them with our unique product range, outstanding customer service and value for money."

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