Business
FY22 Interim Results
FY22 Interim Results.
About this update from Pets At Home Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1954T\n Pets At Home Group Plc\n 23 November 2021\n \n \n \n \n FOR IMMEDIATE RELEASE, 23 NOVEMBER 2021\n \n \n Pets at Home Group Plc: FY22 Interim Results\nfor the 28-week period to 07 October 2021\n \n \n Sustained growth in new pets significantly increases our market opportunity\n \n \n · \n Total Group revenue growth of 18.0% to £677.6m, with the continuing increase in active customers\n \n \n underpinning strong volume growth \n \n \n · \n Group like-for-like# (LFL) revenue growth of 22.2%, or 28.6% on a 2-year basis\n \n \n · \n Retail LFL# revenue growth of 21.9%, or 28.9% on a 2-year basis, with broad-based growth across categories and LFL growth across stores of 21.1%\n \n \n · \n Omnichannel revenue# growth of 21.5%, or 101.4% on a 2-year basis; Participation of total Retail revenue of 15.1% in H1\n \n \n · \n Vet Group LFL# revenue growth of 26.2%, or 23.8% on a 2-year basis; LFL customer sales#1 growth across all First Opinion practices of 26.9% (28.4% 2-year basis), and LFL Joint Venture fee income up 29.3% (25.2% 2-year basis)\n \n \n · \n Group underlying PBT# growth of 77.2% to £70.2m, with growth of 68.3% on a 2-year basis\n \n \n · \n Group headline free cash flow# of £91.6m, up 51.3% YoY, reflecting strong cash generation across our First Opinion veterinary practices and £21m in working capital timing benefits which are expected to reverse in H2; Net cash (excluding lease liabilities) of £64.7m \n \n \n · \n Interim dividend per share of 4.3p, an increase of 72% YoY, reflecting continued strong cash generation and a robust balance sheet \n \n \n · \n Sustained momentum across our omnichannel pet care ecosystem:\n \n \n · \n The number of active VIPs increased 13% YoY to 6.8m, with those shopping across more than one channel up 19% YoY and representing 27% of VIPs\n \n \n · \n The number of Puppy and Kitten Club members grew 107% YoY with members typically spending a third more per annum across the Group compared to non-members \n \n \n · \n New client registrations across our First Opinion veterinary practices averaged approximately 10,000 per week; comprising approximately 10% of all veterinary visits\n \n \n · \n The number of pet care plan subscriptions across the Group grew 45% YoY to over 1.4m, generating over £110m in annualised recurring customer revenue1\n \n \...