Pets at Home Group PLC (CHIX:PETSl)
£ 2.424 -0.012 (-0.49%) Market Cap: 1.10 Bil Enterprise Value: 1.44 Bil PE Ratio: 12.93 PB Ratio: 1.11 GF Score: 84/100
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Half Year 2025 Pets at Home Group PLC Earnings Call Transcript

Nov 27, 2024 / 09:30 AM GMT
Release Date Price: £2.34 (-15.45%)

Key Points

Positve
  • Pets at Home Group PLC (PAHGF) reported a 14% increase in underlying PBIT, driven by strong growth in the vet business.
  • The company launched a new digital platform, resulting in app sales doubling and improved consumer engagement.
  • Subscription revenue grew to 12.4% of sales, up from 10% at the start of the year.
  • The company opened three new stores and two new vet practices, alongside 14 store refits, enhancing its physical presence.
  • Pets at Home Group PLC (PAHGF) continues to attract and retain clinical talent, growing its vet and nurse workforce by 8%.
Negative
  • The overall market environment remains subdued, with growth broadly flat and below the company's medium-term expectation of 4%.
  • Retail sales were flat, underperforming the company's medium-term ambition to grow at 7%.
  • The company faces significant cost increases due to planned changes in national living wage and national insurance contributions, totaling an 18 million pound cost increase for FY26.
  • The digital platform transition caused some initial challenges, impacting core web sales during the first half.
  • The consumer market remains weak, with no anticipated improvement in consumer behavior for the remainder of the fiscal year.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PETSP.L - Pets at Home Group PLC
Half Year 2025 Pets at Home Group PLC Earnings Call
Nov 27, 2024 / 09:30AM GMT

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Presentation
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Unidentified_1 [1]
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Hello and welcome to our H1 results. I'm Lisa mcgowan, CEO of pets at home. And with me today is Mike Eden. Our CFO our strategy continues to deliver even in a subdued market environment. As our H1 results show, we have conviction that this strategy is the right one and we remain laser focused on executing against it. Our strategy is to build an integrated omni channel consumer centric platform that will leverage pets at home's competitive advantage and deliver significant growth and value for our shareholders. Our competitive advantages are already significant as the U K's leading pet care business. And as we continue to strengthen our integrated omni channel consumer centric platform, we will drive differentiated economics
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