Pets at Home is experiencing unusually subdued conditions in the pet retail market and anticipates ongoing weaker consumer demand in the second half of the year.
Chief Executive Lyssa McGowan expressed confidence that while conditions are tough now, the long-term outlook for the UK pet care market remains attractive and expects growth to return to historical norms.
Despite challenges in retail revenues and market conditions, the company reported a significant rise in pre-tax profits by 47.3%, showcasing strength in their vet business.
Pets at Home projects an £18 million impact due to wage increases, complicating their financial outlook further even as revenues have shown some growth.
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