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Pets at Home Group Plc
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Shore Capital has highlighted a growing divergence within Pets at Home Group PLC (LSE:PETS), the UK's largest specialist pet retailer, arguing that the higher-margin veterinary division is being undervalued by a market focused on weakness in the retail business. The broker's assessment came as Pets at Home reported full-year results showing group consumer revenue up 1% to £1.98 billion but adjusted pre-tax profit down roughly 30% to £93 million.
Pets at Home Group LON: PETS reported a weaker full-year profit performance for FY 2026 as underperformance in its retail division outweighed continued growth in its veterinary business, but management said early signs from its retail turnaround plan are encouraging.
Pets at Home Group PLC (LSE:PETS) reported an acceleration in sales growth at its shops in the new financial year as the pet care retailer backed market profit expectations for 2027 and rejigged its shareholder returns policy. A "rebased" shareholder returns policy sees the dividend cut to 7.4p from 13p, with an increasing emphasis on share buybacks, starting with a £50 million programme over the next 12 months.
