Pets at Home Group plc has released a pre-close update for the 52-week period ending on 28 March 2024. The company expects its Group underlying profit before tax (PBT) for FY24 to be £132m, in line with previous guidance. They have successfully launched a new digital platform for consumers, offering improved user experience and functionality across their app and website. The new Stafford DC continues to support all store deliveries, with historically high availability, and the company looks forward to transitioning online sales through H1 FY25 as targeted.
Despite incurring £3m more non-underlying costs than expected due to higher restructuring costs, the company expects to finish the year in a net cash position after returning over £100m to shareholders in FY24 via dividends and buybacks. Looking ahead to FY25, Pets at Home Group plc is comfortable with current analyst consensus expectations for Group underlying PBT. The company's next scheduled update will be the FY24 preliminary results announcement on 29 May 2024.
Pets at Home Group Plc is the UK's leading pet care business, providing pets and their owners with advice, products, and care. The company operates over 450 pet care centers, many of which have vet practices and grooming salons, and also runs a leading small animal veterinary business with over 440 veterinary general practices. For more information, visit their website.
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. It also includes a disclaimer regarding forward-looking statements and advises against placing reliance on such statements.