LONDON (Alliance News) - Premier Veterinary Group PLC on Thursday said its loss narrowed in its recently-ended financial year, helped by a double-digit rise in revenue.
The stock was trading 12% higher on Thursday at 44.34 pence a share.
The provider of preventative healthcare programmes for pets reported a pretax loss of GBP3.6 million for the year to the end of September 2018, narrowed from a GBP4.3 million loss the year before.
Revenue grew 24% to GBP3.2 million from GBP2.5 million year-on-year, with the number of pets enrolled in the company's healthcare programmes up 30% to 244,000.
The number of contracted clinics were 35% higher, at 1,461 in the UK, Europe and the US, with the number of global monthly transactions rising by 30% to 2.6 million.
Geographically, revenue in the UK grew by 6% during the year to GBP2.0 million, driven by continued growth in the number of pets on plan, which rose by 24% to 193,000 pets. The UK business currently has 697 clinics signed up to the Premier pet care plan.
In Europe, the number of pets on plan has grown by 38% to 33,000, pushing revenue up by 64% to GBP808,000. The company said it is contracted with over 250 clinics.
Meanwhile, in the US revenue more than doubled to GBP359,000 from GBP168,000 year-on-year, with the number of pets on plan increasing to 9,000 from 4,000. Currently, there are 158 clinics launched in the country, the company noted, and a further 98 clinics are awaiting implementation.