Pets at Home profits fall due to increased costs of energy and freight

Pets At Home

Pets at Home has blamed rising energy and freight costs for a slump in profit before tax, but has not changed its full-year guidance as customer levels remain strong.

For the 28 weeks to October 13 Pets at Home reported group underlying profit before tax of £59.2m, down 9.3% due to inflated costs associated with international shipping, the spiralling cost of energy and a year-on-year increase in investment in digital assets.

Total group revenue was up 7.3% to £727.2m for the period, with group like-for-like sales up 6.4% and customer levels hitting record numbers in the first half. 

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