Earnings release
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pets at home Group plc FOR IMMEDIATE RELEASE , 29 JULY 2021 Pets at Home Group plc : Q1 FY22 Trading Statement Continuation of strong sales momentum Pets at Home Group plc , the UK's leading pet care business , is pleased to provide a trading update covering the 16 week period from 26 March to 15 July 2021 , compared to the 16 week period from 27 March to 16 July 2020 . Financial highlights FY20 FY21 FY22 LFL Sales Growth # Q1 Q1 Q2 Q3 Q4 Q1 1 - year LFL : Retail 8.2 % 0.4 % 12.5 % 17.5 % 6.1 % 29.1 % Vet Group 6.2 % ( 9.3 ) % 14.2 % 17.8 % 16.3 % 44.7 % Group 8.0 % ( 0.7 ) % 12.7 % 17.6 % 6.9 % 30.2 % 2 - year LFL ## : Retail 13.8 % 8.6 % 20.7 % 25.9 % 22.9 % 29.6 % Vet Group 19.6 % ( 4.2 ) % 21.7 % 27.2 % 13.1 % 25.9 % Group 14.4 % 7.2 % 20.8 % 26.0 % 22.1 % 29.4 % #All like - for - like ( LFL ) sales figures are based on statutory revenue . Within the Vet Group this includes Joint Venture ( JV ) fee income , sales from company managed practices , and sales from our Specialist Group up until the date of disposal , 31 December 2020. ## The start of the comparative quarter coincided almost exactly with implementation of the first national lockdown , resulting in a period that was impacted by wide - ranging operational and regulatory restrictions across both our stores and services . We are , therefore , presenting comparative numbers on both a one and two - year basis to aid meaningful comparison . • Total Group revenue growth of 25.7 % to £ 377.8m , with Group like - for - like¹ ( LFL ) revenue up 30.2 % , or 29.4 % on a 2 - year basis , reflecting broad - based growth throughout the quarter and continued strong growth across both retail and veterinary operations . O Retail revenue growth of 29.1 % , and LFL¹ revenue up 29.1 % ( 29.6 % on a 2 - year basis ) with good growth across both food and accessories , instore and online , despite the re - opening of non- essential retail and hospitality sectors during the quarter . O Omnichannel² revenue growth of 21.4 % , or 107.5 % on a 2 - year basis . Participation of Retail revenue of 15.6 % across the quarter , compared to 16.6 % in the comparative period and 15.8 % for FY21 . Vet Group LFL1 revenue growth of 44.7 % , with 2 - year LFL1 revenue growth of 25.9 % . Our programme of fee adjustments fully annualised as planned during FY21 , resulting in closer alignment of LFL1 growth in Joint Venture ( JV ) customer sales and JV fee income in the current quarter , at 44.5 % and 48.1 % respectively . The strong performance across our veterinary operations continued through the quarter , with customer sales across First Opinion practices approximately 30 % higher on a 2 - year basis . The number of profitable practices continued to increase , with the balance of operating loans reducing further post year end . Notwithstanding an increasingly challenging cost environment , including the ongoing impact of the pandemic on operating costs , which we continue to estimate at £ 9m this financial year , we maintained our price competitiveness through the quarter , with good profit and cash conversion reflecting a higher 1