Pets at Home Group reports strong veterinary revenue growth

Expanding clinical capabilities and strong levels of customer recruitment have driven significant growth in veterinary revenues for the Pets at Home Group, bosses say.

The company has today (1 August) issued a trading statement for the first quarter of the 2024-25 financial year, which showed a 1.5% increase in consumer revenues to £576.6 million.

But while retail revenues were down slightly, the company’s like-for-like Vet Group revenues were up by 13.3%, which it said were “supported by improved clinical capacity and continued strong new customer sign-ups”.

Clinical staff levels were reported to have risen by 6% year-on-year, while active membership of the group’s Pets Club was up by 3% to around eight million.

The company said the latter was “offsetting the impacts of market normalisation, as the pet population stabilises, and slowing inflation”.

Interim results

The company added that it was making no change to its guidance for the current financial year ahead of its interim results in November.

Chief executive Lyssa McGowan said: “The benefits of our investments in logistics, stores and digital are coming through, and our unique joint venture vets continued to deliver differentiated performance, growing visits and attracting new customers, driven by our passionate, independent practice owners.

“As ever, it is our people, and their unrivalled expertise, that continue to drive our business.

“I would like to thank our colleagues and vet partners for their ongoing passion and dedication to creating a better world for pets, and the people that love them.”

The statement further reported that more than £1.3 million had been raised for animal charities during the first quarter of the year, while the company’s pet food bank partnership with Blue Cross is estimated to have supported more than 700,000 pets for a day.