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Pets At Home FY19 Underlying Pretax Profit Up 6.1%; LFL Revenue Up 5.7%

Pets at Home Group Plc (PETS.L) reported that its fiscal 2019 performance was ahead of expectations with Retail business performing strongly during the period. Looking ahead, the Group is confident about the year ahead, entering fiscal 2020 on a higher revenue and profit base than previously anticipated.

For the 52 week period to 28 March 2019, pretax profit was 49.6 million pounds compared to 79.6 million pounds, prior year. Earnings per share was 6.0 pence compared to 12.6 pence. Underlying profit before tax improved 6.1% to 89.7 million pounds, while underlying earnings per share was 13.9 pence compared to 13.5 pence.

Fiscal 2019 Group revenue rose 6.9% to 961.0 million pounds with like-for-like revenue growth of 5.7%. Retail revenues were up 6.2% to 854.6 million pounds, with like-for-like revenue growth of 5.1%, for the fiscal year period. Food revenues grew by 7.9% to 455.4 million pounds.

For fiscal 2020, the Group projects revenue growth ahead of both the retail and vet markets. Underlying profit before tax is anticipated to show slight decline from previous fiscal year.

The Board has recommended a final dividend of 5.0 pence per share, giving a total dividend of 7.5 pence per share in respect of the 2019 financial year, equal with the prior year. The final dividend will be payable on 16 July 2019 to shareholders on the register at the close of trading on 14 June 2019.

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