The Pets at Home Group Plc Board has recommended a final dividend of 8.3 pence per share, taking the total dividend for the year to 13.0 pence per share (FY24 12.8 pence per share). The final dividend will be payable on 16 July 2025 to shareholders on the register at the close of trading on 6 June 2025.
Other financial highlights include:
•Group consumer revenue up 2.7% to £1.96bn, against a subdued but resilient market backdrop.
•Vet Group consumer revenue up 13.0%, record sales supported by high quality growth driven by higher visits, average transaction values and significant growth in Care Plan revenues.
•Retail consumer revenue# down 1.8%, impacted by a period of subdued growth in the pet sector due to a soft UK consumer backdrop throughout FY25, deflation and normalising levels of new pet ownership. In addition, they saw some transitionary impacts from their digital platform launch. However, the fundamentals of the business remain healthy with consumer satisfaction improving through the year.
•Total Group statutory revenues up 0.1% to £1.48bn, with Group like-for-like# (LFL) revenue -0.4%. Vet Group revenues up +16.8% (LFL# +16.2%) to £175.3m, with Retail revenues -1.8% (LFL# -2.0%) to £1.31bn.
•Group underlying PBT of £133.0m, up 0.7% YoY, in line with guidance, with Group underlying PBT margin +5bps.
•Vet Group underlying PBT of £75.9m up 23.3%, driven by the increase in fee income YoY whilst maintaining a broadly flat cost base.
•Retail underlying PBT of £72.9m down 16.6%, driven by the impact of lower revenues with gross margins broadly stable and good cost control.
•Group statutory PBT £120.6m, up 14.1% with the underlying profit fall offset by a £13.9m reduction in non-underlying costs YoY to £12.4m in FY25.
•Underlying EPS 21.0p, up 1.6% with a 1.4% underlying profit for the period decline, offset by 3.0% share buyback accretion.
•Free cash flow up 21.5% to £83.8m, reflecting the increase in underlying PBT, lower non-underlying costs and lower share purchases linked to their employee benefit trust (EBT).
•Vet Group £67.5m up 15.8% driven by strong sales growth, leveraged through their capital light model.
•Retail £30.6m up 14.6% with lower non-underlying costs helping offset lower underlying profits.
•Balance sheet remains robust with adjusted net cash of £6.2m (FY24: £8.8m), before lease liabilities of £348.3m. Cash and cash equivalents of £39.5m at the end of the year (FY24: £57.1m).
•£25m share buyback announced for FY26, having already completed £125m in buybacks in last 3 years
