Pets at Home profits jump driven by strong veterinary growth
Pets at Home recorded a 14% increase in its pre-tax profits driven by strong growth in its veterinary business.
Pets at Home recorded a 14% increase in its pre-tax profits driven by a year of “profound transformation” and strong growth in its veterinary business.
The pet specialist saw its profits surge to £120.6m in the 12 months to 27 March, up from £105.7m the year before.
This was driven by a strong performance in its Vets business, with pre-tax profits up 23% to £75.9m and sales up 13% to £655m.
Pets at Home’s retail business took a hit as sales slipped 1.8% to £1.3bn and profits plunged 16% to £72.9m, which it attributed to a period of subdued growth in the pet sector and “soft UK consumer backdrop”.
Looking ahead, the retailer said it expects the current market conditions and subdued consumer backdrop to remain. As a result, it has forecast its group underlying pre-tax profit for the current year to fall in the range of £115m and 125m.
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Pets at Home chief executive Lyssa McGowan said: “The past two years have seen a profound transformation at Pets at Home. We have moved from a business with a strong presence in pet retail and vets, to a true pet care platform.
“We now have a platform that is fit for the future and capable of delivering sustained outperformance and market share gains through delighting consumers and increasingly fulfilling all of their pet care needs.
“In FY25, we also saw another outstanding year of growth in our vets business, fuelled by the commitment and expertise of our partners, supported by our best-in-class scale services, platform benefits and industry knowhow.
“Our practices significantly outperformed a more subdued industry backdrop and delivered this progress despite the ongoing uncertainty of the CMA investigation – further demonstration of the power of our unique joint venture model.
McGowan added: “While FY26 comes with its own challenges as we digest externally imposed cost headwinds and heightened macro uncertainty, our objective is clear – to deliver outperformance against our underlying markets, across our business.”
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