Robust Group LFL revenue growth of 2.5%
Good performance in strategic drivers: fee income from Joint Venture vet practices up 23.6%, Services LFL growth 8.7%, Advanced Nutrition revenue growth 6.5%
Space rollout on track: 8 new superstores, 17 vet practices and 18 grooming salons. 49% of superstores now have both a vet practice and grooming salon
Seamless shopping omnichannel investment delivering results with order volumes and basket spend increasing
Strong dividend growth of 25.0%, in line with our increased dividend payment policy which commenced at FY16 year end
Ian Kellett, Group Chief Executive Officer, commented:
"We have again demonstrated strong performance in Services, with 47.6% revenue growth. We have also seen robust trading in Merchandise where Health & Hygiene sales returned to a more normalised level after a poor season last year. We are pleased that our investment in seamless shopping is delivering results with increased volumes, basket spend and the launch of our first subscription service.
In a more difficult trading environment, we continue to build Pets at Home for the future and are confident in the long term outlook for our unique offer in the resilient pet market, in particular, the developing potential of our Services business as we see it mature and grow."