Shares of Wilmslow-based pet and vet retailer Pets at Home Group fell more than 10% after it warned it expects “the current market conditions and subdued consumer backdrop to continue into the new financial year.”

The firm published a pre-close update for the 52-week period to March 27, 2025 and gave guidance that fell short of expectations.

Pets at Home said group underlying profit before tax (PBT) for FY25 is expected to be £133 million “in line with previous guidance.”

Looking ahead, Pets at Home said that taking into account its current view of demand and costs “we expect Retail underlying PBT to decline year on year.”

The firm added: “Taking all this into account, this would lead to a FY26 Group underlying PBT outcome down year on year, within a range of £115-125m.”