CVS Group (AIM:CVSG) now operates a total of 482 veterinary surgeries - 458 in the UK, 21 in the Netherlands and 3 in the Republic of Ireland - an online dispensary, four diagnostic laboratories and seven pet crematoria. It’s therefore a substantial player in what remains a highly fragmented market.
- So, what ‘s gone wrong?
The latest trading update covered results for the financial year ending 30 June 2018.
Total Group revenue for the year was up 20.7% to £327m. CVS is a highly acquisitive business and much of that growth came from acquisitions, however, like-for-like growth was still 4.9%, although unfortunately this was lower than the 5.6% reported in the first half.
We highlighted the appeal of CVS in our previous Premium Research note here
- Animed growing strongly but acquisitions prove more challenging
As expected, the strong growth in sales of Animed Direct has continued. Animed Direct is an on-line…
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