Earnings release
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pets at home Group plc FOR IMMEDIATE RELEASE , 21 JANUARY 2021 Pets at Home Group Plc : Q3 FY21 Trading Statement Accelerating momentum across Retail and Veterinary operations Pets at Home Group Plc , the UK's leading pet care business , is pleased to provide a trading update covering the 12 week period from 9 October to 31 December 2020 , compared to the 12 week period from 11 October 2019 to 2 January 2020 . Financial highlights • • • Total Group revenue growth of 18.0 % to £ 302.0m , with Group like - for - like¹ ( LFL ) revenue growth of 17.6 % . Retail revenue growth of 17.5 % , with LFL revenue + 17.5 % ( + 25.9 % on a 2 - year basis ) , despite COVID - related restrictions on both a regional and national level in the period • • • Retail growth was broad - based across categories and channels , with Q3 store LFL growth of 12.3 % notwithstanding a second national lockdown in England across four weeks of the quarter . Trading momentum accelerated across the festive period , with December LFL + 19.3 % and cumulative Retail LFL growth for the 44 weeks² commencing 28 February 2020 of 11.8 % Omnichannel³ revenue growth of 70.7 % or + 91.9 % on a 2 - year basis , supported by previous investment in distribution capacity . Participation of Retail sales of approximately 15 % across the quarter as a whole included 18.0 % during the second national lockdown in England , as customers utilised our one - hour Click & Collect service from store Vet Group revenue up 22.1 % , with LFL revenue growth of 17.8 % across the quarter as a whole and + 21.4 % in December . LFL customer sales across all First Opinion practices increased 22.6 % , with LFL Joint Venture fee income up 17.3 % , reflecting sustained growth in new client registrations and helping to drive a continued improvement in practice profitability Our robust balance sheet was strengthened further in the period through £ 80m in initial cash proceeds relating to the completion of the disposal of our Specialist Hospital Division . Total liquidity as at 31 December 2020 , comprising cash balances and undrawn portion of banking facilities including the additional £ 100m RCF raised in May 2020 , was £ 391.7m Maintain guidance on full - year outlook , as previously announced on 8 January . Based on trading year to date and assuming no change in our “ essential ” designation or recent guidance on permitted procedures to veterinary clinicians from the RCVS , we anticipate full - year underlying pre - tax profit , including the previously announced repayment of business rates relief of £ 28.9m , of at least £ 77m . Strategic highlights • UK pet care market remains robust with our customer acquisition and retention strategy continuing to generate strong growth across all channels : • Continued growth in our VIP and Puppy & Kitten clubs with increasing spend across our pet care platform 1