PET superstore chain Pets at Home has announced plans for more than a dozen stores this year after reporting a 45 per cent rise in earnings.

The company, which operates 162 stores and employs about 2,500 staff, is planning to open 17 outlets in the next financial year.

The privately-owned group said it increased pre-tax earnings before interest, goodwill and depreciation to £34.1m, from £24m in the year to March 31.

It said new ranges, development of own-label food products and better sourcing, particularly from the Far East, helped it boost sales by more than 12 per cent during the year and turnover by 19 per cent to £260m.

In July last year, private equity group Bridgepoint bought the company for £230m after minority shareholders 3i and ICG decided to sell their stakes.

Anthony Preston, who founded the business and whose family previously had a controlling stake, retained an undisclosed interest.

The company, which sells pet foods and accessories, began in 1991 with a single store.

It then expanded in the 1990s to 60 stores, before buying PetSmart, then its largest UK rival, in 1999.

It opened 12 stores last year.

Chief executive Matt Davies said: ''Since the buyout last year, we have concentrated on customer service, product range and stock availability.''