Pets At Home Group Plc Trading Update (9943K)
08 Enero 2021 - 1:00AM
UK Regulatory
TIDMPETS
RNS Number : 9943K
Pets At Home Group Plc
08 January 2021
FOR IMMEDIATE RELEASE, 08 January 2021
Pets at Home Group Plc: Trading Update
Accelerating momentum during Q3 resulting in upgrade to
full-year outlook
Pets at Home Group Plc, the UK's leading pet care business, is
pleased to provide an update on trading for the third quarter of
our current financial year, which concluded on 31 December
2020.
Our H1 FY21 results on 24 November 2020, covering the 28-week
period to 8 October 2020, highlighted the inherent resilience of
both our pet care model and the underlying pet care market. This
was reflected in strong sales momentum across our Retail and
Veterinary operations during Q2 despite an extremely challenging
external environment.
This momentum has accelerated across all channels during our
third quarter, with "high-teens" Group LFL sales growth during
December.
While renewed COVID-related restrictions on a national level may
constrain trade, we remain an "essential" retailer and the measures
we continue to take across our stores, veterinary practices and
online operations are ensuring we remain in a strong position to
meet all of our customers' pet care needs.
At this stage, based on trading year to date and assuming no
change to our "essential" designation or the recently issued
guidance (1) from the Royal College of Veterinary Surgeons (RCVS),
we now anticipate full-year underlying pre-tax profit, including
the previously announced repayment of business rates relief of
GBP28.9m, to be at least GBP77m (2) , ahead of our previous
guidance.
Our robust balance sheet and liquidity position was strengthened
further at the end of 2020 through GBP80m in initial cash proceeds
relating to the completion of the disposal of our Specialist
Group.
We will provide further detail on our Q3 trading and customer
metrics during our final quarter.
1. On 4 January 2021, following the announcement of renewed
restrictions in England and Scotland, the Royal College of
Veterinary Surgeons and British Veterinary Association issued a
joint statement confirming that, unlike the first UK-wide lockdown
in March 2020, their guidance on permitted procedures to veterinary
professionals would not be reverting to emergency-only work
2. In our H1 FY21 results on 24 November 2020, we anticipated
FY21 Group underlying pre-tax profit on a post-IFRS16 basis to be
GBP93.5m including business rates relief. On 4 December 2020, we
announced our intention to repay the GBP28.9m of rates relief
received
- 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. 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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