Pets at Home Group outperformes the market

”The first half of FY25 was characterised by a subdued market in which we performed above average, ” reports Lyssa McGowan, CEO of the leading British pet retailer Pets at Home, in the report for the first half of the fiscal year 2025 (FY25), which ended on 10 October.

“In the veterinary sector, our differentiated joint venture model continues to deliver significantly better performance than our competitors. In the retail sector, our customer satisfaction is excellent, our price position is strong and we have our cost base firmly under control.” In addition, app sales have almost doubled with the launch of the new digital platform, the Stafford distribution centre is performing well and supporting „record levels” of in-store availability and Pets at Home has continued to invest in improving its estate with 3 new shops and 14 refits in the first half of the year.

Total Group sales increased by 1.9 per cent to 789.1 mio GBP, with group like-for-like (LFL) revenue up 1.6 per cent. The vet Group revenue growth remained strong at 18.6 per cent with LFL of 18.2 per cent while retail sales grew by 0.1 per cent with flat LFL.

The Group gross margin of 46.3 per cent remained flat year on year. Underlying profit before tax (PBT) of 54.5 mio GBP was 14.1 per cent ahead of last year supported by the strong growth in the Vet Group, with Retail impacted by the slower sales growth.

The company expects the pet retail market to remain unusually subdued in H2, but is confident that this will be temporary and that growth will return to historical norms. Growth has been subdued for longer than expected, as consumers have remained cautious in recent months. “We expect market growth to average 4 per cent per annum, underpinned by structural trends towards humanisation and premiumization.“