Pets at Home Group

Pets at Home released preliminary FY2026 results in line with expectations: statutory revenue £1,469.6m (-0.8%), consumer revenue £1,981.0m (+1.0%). Statutory pre‑tax profit fell 28.3% to £86.5m, adjusted pre‑tax profit decreased 30.2% to £92.8m. The dividend was cut 43.1% to 7.4p, a £50m share buyback programme was announced and the payout ratio was reset to 50%. The company confirms guidance for adjusted pre‑tax profit in 2027 of around £98m; Jefferies reiterates its buy recommendation. The share price rose 4.6% to 193.8p. » More on de.investing.com

Pets at Home said underlying pre‑tax profit fell 33.5% to £36.2m in the 28 weeks to 9 October, driven by an 84% drop in retail profits and a 2.3% fall in retail revenues. Interim executive chair Ian Burke called for “urgent and necessary” action, announcing a £20m cost‑cutting programme and plans to refocus the retail business after losing market share in advanced nutrition and accessories. The vet services division grew, with revenues up 6.7% and profits up 8.3%, and the group still expects full‑year underlying profit before tax of £90m–£100m. » More on theguardian.com

Pets at Home says finance director Mike Iddon will retire in spring 2026 after nine years. His successor will be Sarah Pollard, currently finance director at PZ Cussons; a specific start date has yet to be announced. Pollard brings extensive consumer goods experience; Iddon will remain in post until spring 2026 to ensure a smooth transition. The company highlights revenue growth in the private customer business and shareholder distributions during Iddon’s tenure. » More on de.investing.com