FY24 pre-close statement
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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.
| • | 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. |
| • | 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. |
| • | 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. |
| • | 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. |
| • | Looking ahead to FY25, we are comfortable with current analyst consensus expectations for Group underlying PBT 1 . |
Our next scheduled update will be our FY24 preliminary results announcement on 29 May 2024.
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