Pet ownership booms

PETS at Home has revealed a record profits haul as the company capitalised on the boom in pet ownership during the pandemic.

It posted a surge in underlying pre-tax profits to £148.7m, up from £106.3m the previous year, for the year to March 31.

And it attracted a record number of new customers, with 7.3m people now members of its pet club.

Chief executive Peter Pritchard expects spending on pets to remain resilient despite the cost of living crisis and, speculating on the reasons for his firm’s success, said people were ‘maybe not be eating out as much or buying a new car’.