Pets at Home expects to declare a pre-tax profit of £133m for the full year, the retailer revealed in a pre-close update.
The figure, for the 52-week period to March 27, 2025, is in line with previous guidance. More than half underlying pre-tax profit is now derived from the group’s veterinary activity, and the retailer stated it will accelerate the rollout of new practices, delivering at least 10 in FY26, together with a further 15 extensions. The group also revealed it will invest around £3m in a new, “capital-light” insurance proposition during the year.
In retail specifically, the plan “assumes subdued UK pet retail market growth continues”. The group is facing cost increases including an £18m impact of recently-announced increases in the National Living Wage and employers’ National Insurance Contributions, as well as new packaging regulations (£2m) and the rebuild of variable pay (c£10m). The group is aiming to invest £3m in marketing costs to drive sales during the next year.
Chief executive Lyssa McGowan said: “We are making good progress in delivering our strategy of building the world’s best pet care platform, although the market remains challenging with subdued consumer confidence and the business facing significant external cost headwinds in 2025.
“Our Vets business is delivering very strong growth and continuing to outperform the market, with a robust pipeline of new openings in place for the coming year leveraging our unique practice owner model. In Retail, we’re confident that with our major infrastructure investments behind us, we are well placed for future growth as the short-term pressures ease and the consumer environment improves.
“I would like to thank our incredible colleagues and practice teams, whose care, support, expertise and advice creates a better world for pets and the people who love them, every single day.”
