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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Pets at Home Group Plc    PETS   GB00BJ62K685

PETS AT HOME GROUP PLC

(PETS)
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Pets at Home : outlook clouded by virus uncertainty despite revenue rise

11/24/2020 | 03:47am EST

(Reuters) - Pets at Home Group on Tuesday warned of an uncertain outlook in the initial weeks of a fresh UK lockdown, even as it said operations had continued to perform strongly in the current quarter on sustained demand for dog food, cat litter and flea collars.

Shares of the company were 8% down in early trade on the bleak outlook.

"COVID-19 continues to create a number of material uncertainties around the near-term trading environment, from a potential escalation of current restrictions on a national level, to reversion to a tiered system of localised restrictions," Chief Executive Officer Peter Pritchard said.

Underlying pre-tax profit fell 5.1% to 39.6 million pounds ($52.80 million) for the 28 weeks ended Oct. 8 as virus-related curbs on grooming services hit margins.

Revenue, however, grew to 574.4 million pounds from 546.3 million pounds a year earlier.

With pet adoptions surging during the pandemic, Pets at Home has seen strong demand for its accessories and veterinary services, recording double-digit growth in same-store sales during the last eight weeks of its second quarter.

"Pet ownership, a proxy for longer-term market growth, is increasing, and the lockdown has, if anything, accentuated our emotional bond with pets, as they play a more significant role in our daily lives," the company said.

Pets at Home, which operates 451 retail stores, said it expects full-year underlying pre-tax profit to be in line with the prior year.

(Reporting by Jasmine I S in Bengaluru; Editing by Ramakrishnan M.)


© Reuters 2020
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Financials
Sales 2021 1 106 M 1 513 M 1 513 M
Net income 2021 69,0 M 94,4 M 94,4 M
Net Debt 2021 10,2 M 14,0 M 14,0 M
P/E ratio 2021 32,8x
Yield 2021 1,69%
Capitalization 2 164 M 2 957 M 2 961 M
EV / Sales 2021 1,97x
EV / Sales 2022 1,85x
Nbr of Employees 9 561
Free-Float 97,9%
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Technical analysis trends PETS AT HOME GROUP PLC
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 444,38 GBX
Last Close Price 432,80 GBX
Spread / Highest target 22,5%
Spread / Average Target 2,67%
Spread / Lowest Target -49,2%
EPS Revisions
Managers and Directors
NameTitle
Peter Pritchard Group Chief Executive Officer & Director
Michael Ian Burke Non-Executive Chairman
David Peter Robinson Chief Operating Officer
Michael James Iddon Group Chief Financial Officer & Executive Director
William Hewish Chief Information Officer
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