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Pets at Home

February 2016

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • PETS
  • Price:
  • 245p
A solid set of interims from the UK’s largest specialist pet retailer, with revenues growing 6% to £404.5m while underlying EBITDA of £60.7m beat consensus forecasts of £59.4m.Food revenues rose 7.1% to £202.1m with the highlight being advanced nutrition, which increased almost 14% to £85.8m (Wainwright private label rose +20%) driven by pet owners becoming aware of the importance of diet. That helped lift gross margin by 0.3% to 54.1%. The group opened six Pets at Home stores and two trial Barkers stores, bringing it to 405 and is on track to open 20-25 for the year.In services, which comprise its vet surgeries and grooming salons, turnover rose an impressive 26% to £41.9m. It open ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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