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Pets at Home Group PLC on Tuesday raised its pretax profit guidance for its fiscal year after posting a rise in third-quarter revenue.
The U.K. pet-care company
PETS,
+7.48%
said consumer revenue–which includes total revenue plus consumer sales from joint venture vet practices–rose 9% for the 12 weeks ended Jan. 5 from a year earlier on higher consumer numbers and volume growth.
Total group revenue grew 8.8% to 347.5 million pounds ($429.2), and was up 8.3% on a like-for-like basis.
It said robust trading momentum has continued into the fourth-quarter.
The company said it now expects group underlying pretax profit for fiscal 2023 to come in toward the upper end of the current consensus range of GBP126 million to GBP136 million and ahead of the GBP131 million previously guided.
“Resilient gross margin performance, in line with management expectations, and a strong grip on operating costs supported good profit and cash conversion across the business,” Pets at Home said.
Write to Elena Vardon at elena.vardon@wsj.com
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