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Vets for Pets’ profits exceeded £80 million as it increased by more than 10% on the previous year, but retail profits continued to fall.
Chris Simpson
Job Title
Front of a Pets at Home store with in-built Vets for Pets. Image: Pets at Home
Pets at Home said its retail business made “material progress” despite recording an almost 60% plunge in pre-tax profits in its preliminary 2026 financial results, while Vets for Pets continues to grow.
The retail business recorded a 1% decrease in consumer revenue amid a “subdued market backdrop” and a 57.8% drop in underlying pre-tax profit, from £72.9 million to £30.8 million.
Pets at Home’s retail profits had been down by around 84% on the previous year in its interim results published in November.
Vets for Pets meanwhile saw its underlying profits rise to £83.8 million, an increase of 10.4%, and its consumer revenue rose by 5%.
Chief executive James Bailey, the former Waitrose boss who took up the post in March, said: “Material progress has been made over the past six months stabilising the retail business, delivering improved satisfaction and better availability.
“We have the opportunity now to build momentum through profitable volume led growth in retail while continuing to execute the proven growth levers of our vet business and launch our insurance offering.
“We will not achieve this without the continued hard work, passion and dedication of our colleagues and partners. We have clear priorities for FY27 and from what I have seen so far, I am confident we can build a great future for Pets at Home, which I look forward to updating on later in the year.”