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Retail & Consumer

Pets at Home wants to become the 'world's best' after record sales

Its strong trading performance was partly offset by higher energy costs and increased investment in digital assets

Pets at Home has posted a record revenue for its latest financial year(Image: Shared Content Unit)

Pets at Home has targeted becoming the "world's best" after seeing its sales jump during its latest financial year.

The Cheshire-headquartered retailer has posted a revenue of £1.4bn for the 12 months to March 30, 2023, up from £1.3bn.

Its underlying pre-tax profits increased by 4.8% to £136.4m but they fell on a statutory basis by 17.7% to £122.5m.

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Pets at Home said the fall in its statutory profits reflected the gain on the sale of its specialist group and the costs of opening its new distribution centre.

It added that its strong trading performance was partly offset by higher energy costs and increased investment in digital assets.

On its future plans, Pets at Home said: "Our medium-term vision and strategy is to build the world's best pet care platform.

"This will generate sustainable value for all stakeholders, as we create a better world for pets and the people that love them.