Pets at Home Grp

Trading Update

RNS Number : 9370Z
Pets At Home Group Plc
24 September 2020
 

FOR IMMEDIATE RELEASE, 24 September 2020

Pets at Home Group Plc: Trading Update  

Sustained momentum across Retail and Veterinary operations

Pets at Home Group Plc, the UK's leading pet care business, today provides an update on trading in the first half of our financial year.

Our Q1 FY21 trading update on 31 July, covering the 16-week period from 27 March to 16 July 2020, highlighted that the last eight weeks of the Quarter had seen sales momentum returning across all areas of the business, reflecting normalisation of shopping habits amongst customers as well as the re-instatement of services and permitted procedures across our Retail and Veterinary operations.

This momentum has continued across both our Retail and Veterinary operations during Q2 FY21, delivering double-digit LFL growth in customer sales into and through the eight weeks to 10 September 2020.

This is testament to several factors, not least the inherent resilience in our pet care model and the underlying pet care market.  We continue to benefit from the adaptability of our operations to changes in customer behaviour and preferences, our continuing investment in omnichannel capacity and customer acquisition channels, and the clear advantages of our unique owner-managed First Opinion veterinary model. 

Although COVID-19 continues to create a number of material uncertainties around the trading environment, including the risk of a second lockdown, based on trading year to date, and as a consequence of the sustained strength in performance we have seen, we now expect full-year underlying pre-tax profit to be ahead of current market expectations 1 . Our balance sheet and liquidity remain strong.

We will announce our FY21 interim results on 24 November 2020.

  1.  As at 23 September 2020, the Company compiled consensus for full year post-IFRS16 pre-tax profit was £73m

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.

Pets at Home Group Plc:

Roger Tejwani, Director of Investor Relations & External Communication
+44 (0)1279 927022 

Jonny Armstrong, Head of Investor Relations
+44 (0)797 5593237

Media Enquiries
Pets at Home Group Plc:

Gillian Hammond, Head of Media & Public Affairs
+44 (0)7442 500138

Maitland/AMO

Clinton Manning
+44 (0)7711 972662

Frederica Bendit
+44 (0)7557 833442

 

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 441 First Opinion practices located both in our stores and in standalone locations, as well as four Specialist Referral centres. 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 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 forwardlooking 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 information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
TSTKKNBPFBKDDCB