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PETS At Home(PETS) Fundamentals

Cheers for that DC - interesting. I will check out the NT website, haven't looked at it for ages.

Woof, woof,. lol

NT has a target of 250p.

Trying to break out from their kennels today.

Starting to look promising!

Naked Trader today -Probably star of the show surprisingly is Pets at Home! Up nearly 15% recently. Those of you who came to the seminar saw the real giant spreadbets I have in it where I am up more than £10,000.

It's reached my target but actually it looks so strong I'm staying put for now, perhaps 250 is now achievable.

241.70p - the highest since just after the float.

Liberum Capital Buy 240.90 237.60 - 275.00 Initiates/Starts

Berenberg Buy 236.60 236.40 - 290.00 Initiates/Starts

New high @255p.

A new high @255.80p.

Naked Trader-Pets at Home (LON:PETS) is still doing well and I was looking for 250 - now it is up above 260 getting even greedier and wondering about 275! Those of you who came to the seminar saw the real giant spreadbets I have in it where I am up more than £15,000.

Announcement of refinancing


Pets at Home Group Plc, the UK's leading specialist retailer of pet food, accessories, pet-related products and services, today announces the closing of a new financing agreement for a five year, £260m revolving credit facility. At current leverage, the facility carries a rate of LIBOR +1.5%.

The facility replaces the Group's existing £325m of drawn facilities, which at current leverage, carried a rate of LIBOR +1.9%.

The new facility is expected to reduce Group net financing expense on the income statement by approximately £2.7m per annum at current leverage. It is expected that the differential balance between the two facilities will be settled from the Group's existing cash resources. Capitalised fees associated with the previous facility will be reflected as an exceptional charge to the income statement of approximately £4.3m in FY16.

The banking syndicate for the new facility comprises 10 lenders.

Pets at Home will release its FY15 year end trading statement on 21st April 2015.

Trading Statement

Delivering on expectations for the financial year 2015

Pets at Home Group Plc, the UK's leading specialist retailer of pet food, accessories and services, today announces a FY15 trading update for the 52 week period to 26th March 2015.

FY15 financial summary

· Like-for-like revenue growth of 4.2% driven by strength in Advanced Nutrition, Health & Hygiene, VIP Club, Services and Omni-channel
o Merchandise like-for-like revenue growth of 3.7%
o Services like-for-like revenue growth of 10.7%

· Total revenue growth of 9.6% to £729.1m
o Merchandise revenues up 8.3% to £666.1m, with Food outperforming Accessories
o Services revenues up 25.2% to £63.0m

· Fee income from Joint Venture veterinary practices up 30.7% to £28.2m

· Underlying EBITDA for FY15 expected to be in line with market consensus*

Operational summary

· Rollout during FY15
o 25 gross store openings, bringing the total portfolio to 400
o 61 vet practice openings, of which 32 were retrofits, bringing the total portfolio to 338
o 50 Groom Room openings, of which 26 were retrofits, bringing the total portfolio to 179

· VIP club
o Total members at year end of 3.2m, adding over 270,000 in the Q4 period
o Card swipe rate at store tills represented 65% of revenues in the Q4, compared with 61% during the Q3

Since the year end, we have made our entry into specialist referral veterinary care, acquiring Northwest Surgeons based in Cheshire. Northwest Surgeons will operate as a stand-alone brand and business within our practice network.

Nick Wood, Chief Executive Officer, commented:
"We are delighted to be delivering on expectations in our first year as a publicly listed company. We have seen strength across both merchandise and services, demonstrating the broad range of levers through which we will successfully deliver further profitable business growth."

Pampered pooches key to Pets at Home's growth

By Jonathan Jones

April 21 2015, 8:47am


Pampered pooches and precious pets pushed Pets at Home (LON:PETS) revenues higher in 2014.

New members of the ‘very important pets’ or ‘VIP’ initiative rose by 270,000 in the fourth quarter and the total number now stands at 3.2mln, more than 1.2mln more than last year.

The VIP members make up 65% of the UK pet specialist’s revenue, which rose 9.6% over the year to £729mln with like-for-like revenue more than 4% higher.

The solid results to 26 March are the first since the group listed on the London Stock Exchange twelve months ago. Since then, shares have risen 8%.

Earnings before interest, tax, depreciation and amortisation (EBIDTA) is expected to be between £119.3mln and £121.6mln the company said.

Nick Wood, chief executive officer, said: "We are delighted to be delivering on expectations in our first year as a publicly listed company.

“We have seen strength across both merchandise and services, demonstrating the broad range of levers through which we will successfully deliver further profitable business growth."

The Group also operates the UK's largest small animal veterinary business with 338 practices, run principally under a Joint Venture model using the Companion Care and Vets4Pets brand names.

The number of new practices rose by 61 to 338, with more than half of all Pets at Home stores now including a veterinary practice.

The increase in practices meant like-for-like sales in service and other revenue, including veterinary joint venture fees, rose to £63mln from 50mln, accounting for 8.6% of total revenue.

VIP....pampered pooches!!!!!!! It seems more and more dogs are becoming replacement children for bored housewives! Sorry, that's a bit sexist, but it seems to me that some people have lost a certain amount of perspective. It's a dog......working or a pet.....but it's a dog!!!

I have VIP pampered pooches, part of the family. :-))

I look after dogs as part of my income and it never ceases to amaze me the money that owners spend on their dogs! The irony is that the dog really couldn't care less.....it's needs are fairly basic and the money being spent is purely to satisfy the needs of the owner. Still, Pets at Home are content to take advantage of that, so everyone is happy!!!....even the PETS shareholders!

Final Results

Building on success - Delivering across all strategic pillars

Pets at Home Group Plc, the UK's leading specialist retailer of pet food, accessories and services, today announces its preliminary results for the 52 week period to 26th March 2015.

Financial highlights

· Total revenue growth of 9.6% to £729.1m
o Merchandise revenues grew 8.3% on the prior year; Food revenues up 9.8% and Accessories revenues up 6.6%
o Services revenues grew 25.2% on the prior year; fee income from Joint Venture veterinary practices up 30.7%
· Like-for-like revenue growth 4.2%, driven by strength in Advanced Nutrition, Health & Hygiene, VIP Club, Services and Omni-channel
o Merchandise like-for-like revenue growth 3.7%
o Services like-for-like revenue growth 10.7%
· Gross margin 54.2%, +40bps on the prior year
· Underlying EBITDA* £121.3m, up 9.6%, margin of 16.6%
· Profit before tax £87.0m, basic EPS 13.5 pence
· Underlying free cashflow** £92.8m, conversion 77% and leverage 1.6x net debt/underlying EBITDA
· Total dividend payable for FY15 of 5.4 pence per share, payout ratio of 40%

Operational highlights

· Building customer offering and loyalty across multiple platforms
o VIP Club reached 3.2m members, up from 2.0m in FY14. Card swipe rate at store tills represented 65% of revenues in Q4, compared with 61% during Q3 FY15
o In Advanced Nutrition, our flagship private label Wainwright's, grew 44.1% to £40.1m
· Increasing scale through new openings
o 25 stores (gross), 61 veterinary practices, 50 Groom Rooms

Evolution to a new divisional Group structure

· Ian Kellett appointed CEO of newly created Retail Division
· Sally Hopson appointed CEO of newly created Services Division

more....