Premier Veterinary reports 70% rise in pets on preventative care plan

(ShareCast News) - Premier Veterinary, UK based pet care experts, announced that the rise in pets signing on to their Premier Pet Care Plan (PPCP) has driven recurring revenue streams in a trading update on Wednesday.The number of pets signed on to the plan, which is a preventative healthcare program for pets, rose to 121,000 at September 2016 from 79,000 in the previous period. Overall registrations increased by 70% in the last year, 53% of which was in the UK.The company also has operations in the US and several countries around Europe, of which the most business is in the Netherlands with around 15,000 pets on the plan.In the US the group is operating in seven states in the South East, with 10 clinics have launched and with over 200 pets signed up to the plan.Chief executive Dominic Tonner said: "We continue to see significant growth in our established market for preventative healthcare programs in the UK."The board is delighted with the initial progress the Group has made in the US and our progress in Europe continues to gather momentum from our success in the Netherlands."The investment we have made in our global transaction IT platform and our business development resources leave us well positioned to grow rapidly in the year ahead."The share price fell 1.37% to 140.55p at 0926 BST at Wednesday.