(Alliance News) - Premier Veterinary Group PLC on Friday said its loss somewhat narrowed in its most recent financial half-year, thanks to higher revenue and reduced administrative expenses.
The pet care services firm, which has its head headquarters in Bristol, posted a GBP1.2 million pretax loss for the six months ended March 31, narrowed from a GBP1.6 million loss the previous year.
This was partly a consequence of a 5.3% revenue increase to GBP2.0 million from GBP1.9 million. However, the bulk of the improvement was on other administrative expenses, which reduced by 16% to GBP2.6 million from GBP3.1 million.
Chief Executive Dominic Tonner said: "Over the first six months of the financial year PVG continued to see solid progress in the number of pets on plan across the group and these numbers have been maintained despite the effects of the Covid-19 pandemic. The investment in our technology platform has enabled us to deliver improved operational performance and we continue to look for opportunities to grow and expand the business.
"We have been pleased with the resilience of the business during the Covid-19 pandemic and our Home Delivery offering in the UK has been particularly well received. We anticipate continued growth in the US flowing from our work with [MWI Animal Health]. Subject to a global recovery post-Covid the business is well placed to continue its growth and drive to profitability."
Premier Veterinary shares were trading 4.7% higher in London on Friday at 46.05 pence each.
By Anna Farley; annafarley@alliancenews.com
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