Musti reports solid growth

The Musti Group has once again confirmed that it is on a growth trajectory, with thoroughly solid results. Revenue growth in the first half of the year of 14.7 per cent to EUR 277.1 million was underpinned by revenue growth in the second quarter of 13.8 per cent to EUR 138.5 million, as reported by the company. Like-for-like growth of 3.0 per cent in the first half of the year and 2.1 per cent in the quarter was temporarily impacted by the migration of our e-commerce platform. Footfall in stores reflects robust underlying demand in the core markets, and the expansion of the customer base to 1.9 million pet owners demonstrates the continued appeal of the network and its product range, explains Musti.

The 50-basis-point increase in the gross margin to 44.3% underscores the impact of the strategic investments we have made and helped drive adjusted EBITDA to 28.3 million, and to 14.0 million…