Continued strong performance during Q4 for Pets at Home resulting in upgrade to full-year outlook

Pets at Home Group Plc, a UK pet care business, is pleased to provide an update on trading during the fourth quarter of our current financial year.

In their trading update on 8 January 2021, the guidance for full-year profit out-turn reflected a number of ongoing uncertainties over the near-term outlook, including renewed challenges from higher Covid infection rates and restrictions on a national level, as well as potential supply disruption relating to the UK’s exit from the European Union.

Notwithstanding this challenging external environment, Pets at Home’s performance over the last eight weeks has been ahead of expectations, with continued strong and broad-based growth across all channels and categories.

Accordingly, based on trading year to date, the company now anticipates full-year underlying pre-tax profit, including the previously announced repayment of business rates relief of £28.9m, to be approximately £85m, which is ahead of our previous guidance of at least £77m1.

While recent positive progress around vaccinations for Covid-19 reduces the level of uncertainty ahead, their priority remains safeguarding the health, safety and wellbeing of all of their colleagues, partners and customers.

The Group will announce its FY21 Preliminary results on Thursday, 27 May 2021.

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