Pets At Home Group Plc FY24 pre-close statement
26 Marzo 2024 - 1:00AM
RNS Regulatory News
RNS Number : 2348I
Pets At Home Group Plc
26 March 2024
FOR
IMMEDIATE RELEASE, 26 MARCH 2024
Pets at Home Group Plc: FY24
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 to the 52 week period from 31 March 2023 to 28 March
2024.
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Q4 trends have been broadly as
expected across Retail and Vets, and Group underlying profit before
tax (PBT) for FY24 is expected to be £132m, in line with previous
guidance.
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We have now successfully launched our
new digital platform to consumers, in line with our commitment for
launch this year, offering much improved user experience and
functionality across our app and website.
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Our new Stafford DC continues to
function well, supporting all store deliveries, with availability
remaining at historically high levels. We look forward to
transitioning our online sales across through H1 FY25 as previously
targeted.
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We expect to finish the year in a net
cash position, after having returned over £100m to shareholders in
FY24 via dividends and buybacks, and after having incurred £3m more
non-underlying costs than previously expected due to higher
restructuring costs, taking the total non-underlying costs for FY24
c£27m.
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Looking ahead to FY25, we are
comfortable with current analyst consensus expectations for Group
underlying PBT1.
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Our next
scheduled update will be our FY24 preliminary results announcement
on 29 May 2024.
Investor Relations
Enquiries
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Pets at Home Group Plc:
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Andrew Porteous, Director of
Investor Relations
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+44 (0) 7740 361 849
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Chris Ridgway, Head of Investor
Relations
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+44 (0) 7788 783 925
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Media Enquiries
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Pets at Home Group Plc:
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Natalie Cullington, Head of
Communications
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+44 (0)
7974 594 701
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Citigate Dewe Rogerson:
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Angharad Couch
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+44 (0)
7507 643 004
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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 440 veterinary
general practices located both
in our pet care centres and in
standalone locations. For more information visit:
https://www.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.
1. Current analyst consensus for FY25
Group underlying PBT is £144m with a range of £137m -
£150m.
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END
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