CVS Group expects more growth as Healthy Pet Club members hit 500,000

(Alliance News) - CVS Group PLC on Thursday reported swelling membership of its Healthy Pet Club, helping drive revenue growth.

The Norfolk, England-based veterinary services provider said revenue climbed 11% to GBP329.9 million in the six months to December 31 from GBP296.3 million a year prior.

The adjusted earnings before interest, tax, depreciation and amortisation margin remained consistent with the prior half-year at 19%, with a slight improvement in gross margin, CVS said.

Membership in the Healthy Pet Club, a preventative care scheme, rose by 4.0% to 500,000 as at December 31 from 481,000 a year prior.

Looking ahead, CVS expects to deliver results in line with market expectations, which it didn't specify, for the financial year ending June 30, despite a "weak economic backdrop". CVS will report full half-year results on February 29.

"The group remains excited by the growth opportunity in Australia with acquisitions made to date performing in line with its business case and a strong pipeline of acquisition opportunities in place," CVS said. "The group remains on track to deliver further growth over the longer term."

CVS shares were 0.1% lower at 1,646.00 pence each on Thursday morning in London.

By Tom Budszus, Alliance News slot editor

Comments and questions to [e-mail]

Copyright 2024 Alliance News Ltd. All Rights Reserved.