(Alliance News) - Premier Veterinary PLC said Monday it has continued to see significant growth in revenue, driven by "significant increase" of fee-generating pet healthcare plans.
In a trading update for the financial year ended September 30, the pet care services firm said its pretax loss narrowed to GBP2.9 million from GBP3.6 million a year ago.
Meanwhile revenue rose 22% to GBP3.9 million from GBP3.2 million the year before.
Premier Veterinary said its revenue was driven by growth in the number of fee-generating pets that are signed up to Premier Pet Care Plan, a preventive healthcare programme.
The company said there has been a 27% increase in the number of pets on plan across all geographic regions to 311,000 from 244,000 a year ago.
Premier Veterinary also said it expects its operating platform to continue to provide efficient growth in the coming years.
As a result, the UK, US and Netherlands regions, and subsequently the whole group, is expected to become profitable at operating profit level on a monthly basis during the course of the current financial year ending March 2020, the company said.
Premier Veterinary shares were down 1.7% in London at 59.00 pence each on Monday.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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