News | Problems with veterinary business

Back

Drop in profits at Pets at Home

In spite of the problems in the veterinary division, CEO Peter Pritchard intends to hold onto this part of the business and is backing further growth.

The leading UK pet store chain Pets at Home has suffered an 80 per cent drop in profits before tax to £8 mio in the first six months of its financial year, as compared with the same period a year ago. The company ended its first six months of the fiscal year on 11 October.

The massive drop is attributable to unplanned costs on restructuring of the veterinary business. Together with its joint venture partners, Pets at Home operates 471 veterinary clinics. 55 of these will be bought back by Pets at Home, with 25 being operated by the company itself and 30 likely to be closed. Pets at Home will have to factor in unbudgeted costs amounting to £49 mio for the restructuring of its veterinary division by 2020. £29.9 mio of this was allocated in the first six months of the current financial year alone.

As of the end of the first six months, Pets at Home operated 451 pet stores and 471 veterinary practices in the UK. Sales during this period amounted to £499.3 mio, an increase of 6.7 per cent compared with the first six months of 2018.

|28 November 2018


SEND
 PRINT 

Post a comment

* Please complete the areas marked in red correctly and in full!.



(will not be published)

* obligatory fields


Latest news

Managerial changes at Josera and Foodforplanet

The start of the year has brought structural changes in the management at Josera petfood and Foodforplanet. At Josera petfood, Klaus Wagner has View news...

Amazon introduces new private label pet food

Amazon means business. The online juggernaut has brought out Lifelong, another own brand of dry and moist food for dogs and cats. The dry food View news...

Simple Solution now distributed in Turkey

Pet care manufacturer Hero Pet Brands (formerly The Bramton Company) has announced it has partnered with Kuzey Pet to distribute its Simple Solution View news...

The new PET worldwide is out

The latest issue of PET worldwide once again features extensive reporting by the editorial team on the most exciting developments currently taking View news...

PET retailers from D, A, CH

Update now!


PET Handel
The unique work on the German retail pet shops. Essential information for successful marketing, sales and field service activities. Loose-leaf collection incl. folders and database CD.
Order now

Actual economic data

Statistik Zoofachhandel


Dähne Statistik Zoofachhandel
It provides all the key performance indicators for the German PET industry.

Language: German
Order now

Newsletter

Get the latest news about the PET industry weekly per email.

Just register