The British specialist retail group Pets at Home has launched a share buy-back programme worth GBP 25 mio. The reason given is the decline in sales growth. Pets at Home wants to reduce the company's share capital and has commissioned Numis Securities to carry out the share buy-back programme.
The programme will be carried out in two phases. The first, ending on 27 September, has already begun and follows on from GBP 100 mio of share buy-backs already completed over the last two years.
The company's report for the year to 28 March 2024 revealed a 13.7 per cent fall in pre-tax profits to GBP 105.7 mio. However, the group's total turnover increased by 5.2 per cent to GBP 1.5 bn.
