Trading Update

RNS Number : 4218Q

Pets At Home Group Plc

26 February 2021

 

FOR IMMEDIATE RELEASE, 26 February 2021

Pets at Home Group Plc: Trading Update  

Continued strong performance during Q4 resulting in upgrade to full-year outlook

Pets at Home Group Plc, the UK's leading pet care business, is pleased to provide an update on trading during the fourth quarter of our current financial year.

In our trading update on 8 January 2021, our guidance for full-year profit out-turn reflected a number of ongoing uncertainties over the near-term outlook, including renewed challenges from higher Covid infection rates and restrictions on a national level, as well as potential supply disruption relating to the UK's exit from the European Union.   

Notwithstanding this challenging external environment, our performance over the last eight weeks has been ahead of expectations, with continued strong and broad-based growth across all channels and categories.

Accordingly, based on trading year to date, we now anticipate full-year underlying pre-tax profit, including the previously announced repayment of business rates relief of £28.9m, to be approximately £85m, which is ahead of our previous guidance of at least £77m ¹ .

While recent positive progress around vaccinations for Covid-19 reduces the level of uncertainty ahead, our priority remains safeguarding the health, safety and wellbeing of all of our colleagues, partners and customers. 

The Group will announce its FY21 Preliminary results on Thursday, 27 May 2021.

1.  In our trading update on 8 January 2021, we anticipated FY21 Group underlying pre-tax profit on a post-IFRS16 basis, including the previously announced repayment of business rates relief of £28.9m, to be at least £77m.

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This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulations (Regulation (EU) No.596/2014). For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by Roger Tejwani, Director of Investor Relations & External Communication.

Investor Relations Enquiries

Pets at Home Group Plc:

Roger Tejwani, Director of Investor Relations & External Communication
[phone] 

Chris Ridgway, Head of Investor Relations
[phone]

Media Enquiries

Maitland/AMO:  

Clinton Manning
[phone]

Joanna Davidson
[phone]

About Pets at Home

Pets at Home Group Plc is the UK's leading pet care business; our commitment is to make sure pets and their owners get the very best advice, products and care. Pet products are available online or from our 451 stores, many of which also have vet practices and grooming salons. Pets at Home also operates a UK leading small animal veterinary business, with 440 First Opinion practices located both in our stores and in standalone locations. For more information visit: http://investors.petsathome.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.

 

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