31st Mar 2025 10:31
(Alliance News) - Pets At Home Group PLC on Monday said it expects to report annual profit in line with guidance, despite a "challenging and volatile UK consumer backdrop".
The Cheshire, England-based pet care firm expects to report underlying pretax profit of GBP133 million for the financial year that ended on Thursday last week, "in line with previous guidance".
This would represent a 0.8% climb from GBP132.0 million in financial 2024. "Q4 trends have been broadly as we planned across Retail and Vets, against a challenging and volatile UK consumer backdrop," Pets at Home said.
In response to the business update, the FTSE 250 stock fell 12% to 208.80 pence each on Monday morning in London.
"We expect the current market conditions and subdued consumer backdrop to continue into the new financial year," Pets at Home said.
In its Vet offering, it expects "further progress" in underlying profit in the year, but noted the comparative period saw "exceptional levels of growth delivered".
The Retail division, Pets at Home expects to outperform "subdued UK pet retail market growth".
Noting demand and the prospect of higher costs from UK budget measures announced last year, the company expects Retail underlying profit to fall in the new financial year.
"Taking all this into account, this would lead to financial 2026 underlying PBT outcome down year on year, within a range of GBP115 million to GBP125 million," it added.
Pets at Home releases annual results on May 28.
By Tom Budszus, Alliance News slot editor
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