Pets At Home (LON:PET) reported its preliminary full-year results for the year to 28 March 2019.

The pet supplies retailer revealed that profit before tax dipped 37.7 per cent year-on-year to £49.6 million.

Nevertheless, underlying profit before tax rose 6.1% to £89.7 million, compared to 84.5 million the year before.

Ultimately, despite the fall in profits, Pets At Home said that performance proved ‘ahead of expectations’.

Moreover, the company said that cashflow improved 14% to £63.6 million.

Peter Pritchard, Group Chief Executive, commented on the results:

“We are trading strongly and taking share across the pet market. Customers are loving our lower prices, the convenience of subscription packages, high quality veterinary care and pet healthplans.

We launched our pet care strategy last year and we’re already making good progress, bringing our Retail and Vet businesses closer together. Our commitment is to make sure pets and their owners get the very best advice, care and products, and we’re able to join this up for customers in a way that competitors just can’t.

I’m pleased with our progress and the results we have delivered, but there remains plenty to do. I’m confident we will successfully reposition our Vet Group so that, with the strong performance in Retail, we will be well placed to deliver our strategy.”

The firm’s full-year dividend remained unchanged from the year before at 7.5.

Shares in Pets At Home are currently up +12.84% as of 11:10AM (GMT).