Home
of all things pet

Annual Report and Accounts 2018

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At a glance

Everything your pet needs for a happy and healthy life

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Merchandise

Pet products are available both online or from our stores, where our well-trained colleagues provide advice on areas such as pet nutrition and the set-up of home aquaria.

Merchandise Revenue (£m)

£765.4m

Services

We provide veterinary services through our network of First Opinion practices and Specialist Referral Centres. Our First Opinion practices are operated mainly under the Vets4Pets brand and are situated in stores and in standalone locations. Our Referral centres provide highly specialist services to vets working in our own and in other First Opinion practices.

Grooming services are provided primarily from salons within our retail stores.

Services Revenue (£m)

£133.5m

Pets at Home way


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Home
of all things pet

As a new puppy owner there’s a lot to think about, it’s a big responsibility – we’re here to give customers the very best for their puppy across Pets at Home products, Vets4Pets practices and the Groom Room

Home
of value and convenience

We have invested to deliver great value, whenever and however customers choose to shop with us

Home
of veterinary excellence

Our preferred model is to work in partnership, providing clinical freedom for vets to do what they judge to be in the best interest of their clients and patients

Home
of doing the right thing

We celebrate the love of pets so we believe that we have a responsibility to do the right thing…

The year in review

Financial Highlights

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Revenue (£m)

£898.9m

+7.8%

2018898.9
2017834.2
2016777.8

Gross margin (%)

51.7%

-249 bps

201851.7
201754.2
201654.5

Underlying basic earnings per share (pence) 1

13.5p

-11.2%

201813.5
201715.3
201615.1

1 FY18 statutory basic earnings per share were 12.6p

Dividend per share (pence)

7.5p

 

20187.5
20177.5
20167.5

Operational highlights

Better value for customers

Like-for-like revenue growth of 5.0% in the Merchandise business has been significantly accelerated by our new pricing initiatives, accessories innovation and puppy product relaunch

Even more available in store

Launching online Order-In-Store and flea product subscription plans has given our colleagues the ability to offer more products and services to customers in-store

Improved website experience

Customers are having a faster and smoother online experience with a revamped checkout process, which has helped increase our omnichannel revenue1 growth to 75.1%

1 Alternative Performance Measures (APMs) are defined and reconciled to IFRS information, where possible, on page 169 of our Annual Report.

More veterinary services in even more locations

We have seen our veterinary business growing ahead of the market, achieved through our new First Opinion practice openings, healthcare plans, and space extensions to our Specialist Referral Centres

Strategy pillars key:

  • Grow like-for-like revenues
  • Grow retail and services space
  • Grow margins
  • Corporate Social Responsibility Strategy

Chief Executive's statement

“I’m proud and excited to be taking over as CEO. The value of our business is much greater than being a retailer or a vet care provider. It’s the way we can give pet owners a breadth of products, grooming, vet care and other services. Combined with the way we can serve them through stores, the website and our pet professionals, the colleagues and vets who genuinely care about customers and their pets.”

Peter PritchardGroup Chief Executive Officer
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