Musti Group to a record quarter

The rising tide tends to lift all boats, but some boats seem to rise faster and higher than others. Musti Group has grown steadily and very profitably alongside the rising pet boom.

Company reported for the Q3 a record breaking profit from of 8,8 M€, translating into 9,4% profit margin. The revenues grew by 19%. Part of the growth was driven by opening new stores, but the Like for Like growth saw a healthy 10,9% growth. However, the Like for Like growth has been gradually declining over the last years.

Even though Musti Group is a business with a significant part coming from online (22,3%), the growth is still driven mainly by the stores. The online business saw a healthy 20% growth.