Pet at Home Chief Executive Officer James Bailey has revealed the company has made an encouraging start to its new financial year, trading in line with expectations and clear further signs that its Retail Turnaround Plan is gaining traction.

“Retail saw stronger momentum, with all categories delivering sales and volume growth, while our Vet Group continued to grow ahead of the market,” he said.

“We remain focused on delivering better value, stronger execution and more convenient pet care for customers, while building a more resilient and profitable business.”

Total Group consumer revenuewas up 3.9% to £614m. Vet Group consumer revenue up 1.9% to £215m, growth remains ahead of the market, with sales in line with expectations. Growth underpinned by strong Care Plan performance and sign-ups alongside higher average transaction values.

Retail consumer revenue up 4.9% to £399m. Q1 performance saw the business win market share, with momentum being underpinned by Retail Turnaround Plan initiatives. Sales growth is broad based with volumes comfortably growing ahead of sales.

Business Highlights

• The Retail Turnaround Plan continues to deliver with category resets on Dog Food, Cat Food and Treats all launched in Q1. This is alongside the launch of a comprehensive investment program refreshing the group’s store estate.
• Retail customer satisfaction is higher YoY as the group maintains a continued focus on improving execution. We saw strong improvements in value for money, product availability and ease of instore order collection.
• Active Pets Club members of 7.0m remains impacted by methodology changes in the prior year; total Retail transactions grew 2% in the quarter, continuing to underpin strong volume growth.