Pets At Home Group Plc Repayment of business rates relief (5277H)
04 Diciembre 2020 - 01:00AM
UK Regulatory
TIDMPETS
RNS Number : 5277H
Pets At Home Group Plc
04 December 2020
FOR IMMEDIATE RELEASE, 04 December 2020
Pets at Home Group Plc: Repayment of business rates relief
Pets at Home Group Plc, the UK's leading pet care business,
announces today its decision to repay in full the GBP28.9m of
business rates relief received across the business during the
Covid-19 pandemic.
This decision reflects the company's guiding principle of
treating all stakeholders fairly and is supported by the continuing
strong performance of the business.
We remain extremely grateful for the financial support provided
in March as we rapidly adapted our operations to be able to
continue, as an "essential" retailer, meeting the needs of the
nation's pets while keeping colleagues, customers, suppliers and,
of course, pets as safe as possible in unprecedented circumstances.
Our priority then, and ever since, has been the safety and
wellbeing of all of our stakeholders.
The aggregate result of Covid-specific costs and restrictions
means that the financial impact of the pandemic on our business
this year, currently estimated at over GBP35m, will no longer be
offset by the rates relief received.
Nevertheless, ten months into this unprecedented and challenging
environment, our adaptability and recent sustained performance
across the business means that we are now, more than ever,
confident in the strength and longevity of our pet care platform
and proud to be repaying the business rates relief in full from
this position of strength.
Peter Pritchard, Group Chief Executive Officer, commented:
"I continue to be immensely proud of the tireless efforts of my
colleagues across the business and the work they are doing to meet
the needs of our nation's pets week after week in the pandemic.
"We were very grateful for the rates relief provided back in
March during a time of significant uncertainty, which helped us to
take the decision to keep our stores, online operations and
veterinary practices open. Recent positive news around the launch
of vaccinations for Covid-19 has led us to reassess the level of
uncertainty ahead.
"Pets at Home is a robust business, both operationally and
financially, with amazing colleagues, great operations, good
liquidity and a strong balance sheet. Our decision today
demonstrates our clear commitment to acting responsibly and
treating all of our stakeholders fairly."
- End of announcement -
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
+44 (0)1279 927022
Chris Ridgway, Head of Investor Relations
+44 (0)7788 783925
Media Enquiries
Pets at Home Group Plc:
Gillian Hammond, Head of Media & Corporate 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 440 First Opinion practices
located both in our stores and in standalone locations, as well as
five 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 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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END
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