StockMarketWire.com - Pet product retailer and veterinary business Pets at Home said its first-quarter revenue has slipped 0.7%, though trading conditions had improved in the latter part of the trading period after lockdowns were eased.

Revenue in the 16-week period to 16 July fell 1.0% on a like-for-like basis, with a 0.4% rise in the retail business offset by a 9.3% slump in the veterinary business.

The UK veterinary sector was hit earlier in the year after the UK government placed restrictions on non-emergency producers during lockdowns.

Pets at Home said its company-wide like-for-like revenue fell 13.5% in the first eight weeks of the trading period, but bounced 12% in the subsequent eight weeks.

'In spite of the rapid, wide-ranging and devastating effects of the pandemic, we have remained open for our customers throughout the period and we are emerging as a stronger business,' chief executive Peter Pritchard said.

'The inherent resilience in our pet care model and the underlying pet care market, as well as encouraging signs of increased pet ownership, all underpin our confidence in seizing the future and progressing specific, strategic priorities.'






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