Pets At Home Group (LSE: PETS) expressed confidence in analyst projections for its fiscal 2025 underlying pretax profit on Tuesday, signaling potential growth after a challenging year.
In a trading update, the company said it anticipates underlying pretax profit for the fiscal year ending March 30 to be around £132 million, in line with previous guidance and down 3.2% from £136.4 million in FY23.
However, looking ahead to FY25, Pets At Home stated it is comfortable with the current analyst consensus of underlying pretax profit between £137 million and £150 million, with a consensus estimate of £144 million, which would represent a 5.6% increase from FY23.
The pet retailer noted that fourth-quarter trends have been broadly as expected across its Retail and Vets units. Additionally, its new Stafford distribution center is functioning well, supporting store deliveries with historically high availability levels.
Despite the positive outlook, Pets At Home shares were flat on Tuesday morning, reflecting a 13% year-to-date decline amid a challenging retail environment.
The company will release its full FY24 results on May 29.
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