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Results: PETS

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EPIC PETS
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A poor reaction to Pets At Home interim results provides a buying opportunity

Back in July I covered Pets at Home Group (PETS) as a buy based on my opinion that I expected the business to continue performing strongly, as we are a nation of pet-lovers and spending on them would be one of the last things that many people would cut back on. Since then the share price has seen some ups and downs, broadly in line with wider market sentiment, but yesterday it took a bit of a kicking and closed down over 5% at 289p, on a day where the FTSE actually performed reasonably well, after it released its results for H1 2023, up until October 13 2022 and covering a 28 week period. Having looked at the results I can’t really see what the market didn’t like, as they are in line with guidance in terms of full year pre-tax profit expectations on £131 million, with a range of £121-136 million.

EPIC PETS
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It's Raining Cats and Dogs so this Pet Choice Ain't Likely to Cage its Share Price

Hello Share Takers. From time to time, I urge you to take a look at Pets at Home (PETS). Why? Because the fascination with pets is growing hot and fast. It could be something to do with Covid making folks feel more lonely. Or is it that people are getting fed up with the inadequacies of their human companions? Or it might be that working at home makes it easier to keep a cat or dog.

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