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PETS at Home, the Cheshire based chain which operates 150 stores, today unveiled plans to float on the stock market within two years to help fund a major expansion of the business.

In the boardroom, founder Anthony Preston, 49, whose family has a controlling interest in the business, has become executive chairman. He has appointed finance director Matthew Davies, 33, as chief executive in his place.

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Mr Davies, who joined the group in July 2001, said: "We have not ruled out the option of floating the business over the next couple of years."

Pets at Home has yet to appoint an adviser for the float, but believes the group's market capitalisation could be as high as 250m within two years.

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Pets at Home to spread its wings

the group announced. At the operating level, profits rose from 16.5m to 22m.

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Currently, it operates a total of 150 stores nationwide. Of these, 147 are out of town superstores and the others are high street branches.

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On the trading front, Mr Davies said the chain was benefiting from a trend among owners to treat their pets as family members.

The group, based on the Stanley Green Trading Estate at Handforth, is looking to grow to a 500m turnover concern by Jordan 11 Low Red And White

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Turnover in the year to March 25 rose from 203m to 218m, while pre tax profits soared from 4.5m to 12m, Nike Jordan 11 Bred

2009 with operating profits of 50m.

Steve Herring has moved up from financial controller to finance director. There are promotions for Ian Ellison as director of property and Nigel Freelove as the new IT director.

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Pets at Home plans to have a further 100 superstores and 100 high street outlets within five years. It has earmarked 5m for expansion this year, with the aim of opening 20 new stores, creating 300 jobs.

"They are buying toys and treats and are changing their pets' collars and bedding more frequently, often choosing items that match their home dcor," said Mr Davies.

News of the proposed listing emerged as the group posted record annual Nike Air Jordan 17

Nike Air Jordan 17 Plus Whiteblackcopper

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Mr Davies said there has been significant growth in sales of hamsters, rats, guinea pigs, birds and fish, which require less maintenance than dogs and cats.

Nike Air Jordan 17 Plus Whiteblackcopper

Mr Preston, who founded the chain in 1991, appeared to rule out a float last year when he said the time was not right. But it would be a way of securing substantial capital to fund the group's ambitious expansion programme.

Nike Air Jordan 17 Plus Whiteblackcopper

Nike Air Jordan 17 Plus Whiteblackcopper

Nike Air Jordan 17 Plus Whiteblackcopper

results and announced major boardroom changes.

delivering more than 200,000 readers in Greater Manchester.

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