Business
FY25 pre-close statement
FY25 pre-close statement.
About this update from Pets At Home Group Plc
[{"type":"text","content":"\n\n\n \n \n \n \nFOR IMMEDIATE RELEASE, 31 MARCH 2025\nPets at Home Group Plc: FY25 pre-close statement\nPets at Home Group plc, the UK's leading pet care business, today provides a pre-close update in respect to the 52-week period to 27 March 2025.\nFor FY25:\n\n\n\n\n•\n\n\nGroup underlying profit before tax (PBT) for FY25 is expected to be £133m, in line with previous guidance.\n\n\n\n\n•\n\n\nQ4 trends have been broadly as we planned across Retail and Vets, against a challenging and volatile UK consumer backdrop.\n\n\n\n\n•\n\n\nWe finish FY25 with record numbers of Pets Club members, higher customer satisfaction and having grown our clinical talent with more vets and more vet nurses.\n\n\n\n\n•\n\n\nWe have successfully completed the transition of online sales to our Stafford distribution centre, meaning we begin FY26 with a single DC, having completed our network optimisation.\n\n\n\n\n•\n\n\nOur new digital platform is also now functioning well, with particularly strong growth in subscriptions.\n\n\n\n\n•\n\n\nThe completion of our network optimisation and new digital platform mean we have now fully completed our two major strategic programs, setting our retail business up to return to sales growth and market outperformance in FY26.\n\n\n\n\n•\n\n\nWe expect to finish FY25 in a net cash position, after having return c£85m to investors during the year.\n\n\n\n\n \nAs we look to FY26:\n\n\n\n\n•\n\n\nWe expect the current market conditions and subdued consumer backdrop to continue into the new financial year. \n\n\n\n\n•\n\n\nIn our Vet Group, which now represents more than half of our Group underlying PBT:\n\n\n\n\n\n\n\n-\n\n\nWe expect further progress in underlying PBT albeit against the comparative of the exceptional levels of growth delivered in FY24 and FY25.\n\n\n\n\n\n\n\n-\n\n\nGoing forward we are accelerating the rollout of new practices, and will deliver at least 10 in FY26, together with a further 15 extensions.\n\n\n\n\n\n\n\n-\n\n\nWe now expect the provisional findings of the CMA to be released over Summer 2025, rather than previous expectations of May 2025.\n\n\n\n\n•\n\n\nWe will invest c£3m in a new, capital-light insurance proposition which will leverage our best-in-class consumer data, large customer base and leading brand.\n\n\n\n\n•\n\n\nIn Retail:\n\n\n\n\n\n\n\n-\n\n\...