REG - Pets at Home Grp - FY26 pre-close statement

Pets at HomeAnnouncement

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RNS Number : 7165Y  Pets At Home Group Plc  31 March 2026

 

 

 

FOR IMMEDIATE RELEASE, 31 MARCH 2026

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION NOT FOR RELEASE, PUBLICATION OR
DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO
DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

 

Pets at Home Group Plc: FY26 pre-close statement

Pets at Home Group plc, the UK's leading pet care business, is pleased to
provide a pre-close update in respect of the 52-week period to 26 March 2026.

 •    Group underlying profit before tax (PBT) for FY26 is expected to be c£92m, in
      line with previous guidance.
 •    Our 'Retail Turnaround Plan' is progressing and is on track across our 4
      priority areas, Product, Price, Execution and Cost. We have implemented our
      price investments and completed our £20m Group overhead savings, and while
      the benefits of many initiatives still lie ahead of us, we are encouraged by
      the progress made. In H2, our Retail business has seen volume growth, and we
      delivered positive LFL sales growth, as guided, with Q4 improving sequentially
      over Q3. Retail will deliver underlying PBT of c£30m in FY26.
 •    In line with our guidance, Vet Group will deliver PBT of c£83m, a further
      year of strong profit progress despite the expected slowdown in sales growth
      as our customer cohorts reach a typical lull in activity. Vet Group
      performance remains underpinned by growth in average transaction values
      alongside growth in Care Plan revenues and plans.
 •    Non-underlying costs of c£7m have been incurred in the year, in line with
      previous guidance.
 •    We expect to finish FY26 in a net debt position of c£20m, after having
      returned c£85m to shareholders via dividends and buybacks during the year.
 •    Following extensive consultation with our investors, we are rebalancing the
      way we return cash to shareholders. We will not change the total amount we
      return to shareholders but we will rebase our dividend to a 50% payout ratio,
      with that cash 'saving' returned to shareholders via our buyback programme.
 •    We welcome the Final Decision Report of the CMA's veterinary services market
      investigation. We continue to expect no adverse impact on the growth strategy
      or ambitions for our Vet Group from the outcome.
 •    Looking ahead to FY27, at this stage, we have c80% of our energy and FX
      requirements hedged and are comfortable with current analyst consensus
      expectations for Group underlying PBT(1).

Our next scheduled update will be our FY26 preliminary results announcement on
27 May 2026.

 

1.     Current analyst consensus for FY27 Group underlying PBT is £99m
with a range of £90m - £108m.

 

Investor Relations Enquiries

Pets at Home Group Plc:
 

Andrew Porteous, Director of Investor Relations             +44
(0) 7740 361 849

Aaron Wood, Head of Investor Relations
                       +44 (0) 7702 083 154

Media Enquiries

Pets at Home Group
Plc:

Natalie Cullington, Head of Communications
+44 (0) 7974 594 701

Citigate Dewe
Rogerson:

Jos Bieneman
                                                    +44
(0) 7834 336 650
 
 

About Pets at Home
Pets at Home Group Plc is the UK's leading pet care business, providing pets and their owners with the very best advice, products and care. Pet products are available online or from over 450 pet care centres, many of which also have vet practices and grooming salons. The Group also operates a leading small animal veterinary business, with over 450 veterinary general practices located both in our pet care centres and in standalone locations. For more information visit:
http://petsathomeplc.com/ (http://petsathomeplc.com/)

Disclaimer

This trading statement does not constitute an invitation to underwrite,
subscribe for, or otherwise acquire or dispose of any Pets at Home Group Plc
shares or other securities nor should it form the basis of or be relied on in
connection with any contract or commitment whatsoever. It does not constitute
a recommendation regarding any securities. Past performance, including the
price at which the Company's securities have been bought or sold in the past,
is no guide to future performance and persons needing advice should consult an
independent financial adviser. Certain statements in this trading statement
constitute forward-looking statements. Any statement in this document that is
not a statement of historical fact including, without limitation, those
regarding the Company's future plans and expectations, operations, financial
performance, financial condition and business is a forward-looking statement.
Such forward-looking statements are subject to risks and uncertainties that
may cause actual results to differ materially. These risks and uncertainties
include, among other factors, changing economic, financial, business or other
market conditions. These and other factors could adversely affect the outcome
and financial effects of the plans and events described in this statement. As
a result, you are cautioned not to place reliance on such forward-looking
statements. Nothing in this statement should be construed as a profit
forecast.

This announcement contains information that is inside information for the
purposes of Article 7 of the UK version of Regulation (EU) No. 596/2014 which
is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as
amended (the Market Abuse Regulation ("MAR")). Upon the publication of this
announcement, such information will no longer constitute inside information.
Andrew Porteous, the Company's Director of Investor Relations, is the person
responsible for making the notification for the purposes of Article 17 of MAR.

 

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