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Pets at Home Share Price Falls on Cautious Full-Year Profit Guidance

Nigel Frith Nigel Frith
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Shares of Pets at Home Group PLC (LON: PETS) tumbled around 10% on Tuesday after the company warned of the pandemic-driven uncertainty. 

Pets at Home saw its revenue jump by 5.1% to £574.4 million for the six months to October 08 while pre-tax profit soared by more than 14% to £38.9 million.

The higher profit paved the way for the firm to maintain the interim dividend at 2.5p, same as last year.

“Pet ownership has soared as people have been confined to their homes and have had more time to welcome new additions to the household,” wrote Susannah Streeter, an analyst at Hargreaves Lansdown.

Still, Pets at Home share price fell after the company provided cautious full-year profit guidance.

“At this stage, absent any escalation of restrictions, or other significant disruption to our operations, we now anticipate full-year underlying pre-tax profit to be in line with the prior year.” 

Pets at Home share price falls on cautious outlook November 2020

Pets at Home share price is now trading at 390.8p of 6.69% in the negative territory. 

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Nigel Frith
Nigel Frith
Team Member

Nigel has been in the regulated financial services industry for nearly a decade, has previously owned a financial brokerage and has written many times for sites relating to personal finance and trading.

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