Last checked at 8 Jul 2008 07:00
| For Immediate Release | 8 July 2008 |
CVS Group PLC
("CVS" or the "Company")
Pre-Close Trading Update
Ahead of entering the close period for its full year results, CVS, one of the UK's leading providers of veterinary services, announces an update on trading for the year ended 30 June 2008.
The Company has performed in line with expectations in the second half of the year and continues to make progress in the acquisition of UK veterinary practices and laboratories. During the year ended 30 June 2008 the Company acquired 10 practice groups consisting of 30 individual veterinary surgeries, and one veterinary laboratory operating from four sites.
All acquisitions have been successfully integrated into the Company's operations and a further veterinary surgery has been acquired since the year end. It operates from one site in the Teesside area where CVS already owns a number of other practices. The historic turnover of this practice is in the region of £880k per annum.
The Group now has 54 practices operating from 151 surgeries and four laboratories, employing a total of 359 vets.
The Company will continue its focus on acquiring well established practices achieving excellence in terms of clinical care, and assisting those individual surgeries to focus on the provision of "great animal care" through the provision of a broad range of central services.
The Preliminary Results for the full year will be announced on 16 September 2008.
Contacts:
CVS Group plc
Simon Innes, Chief Executive
Paul Coxon, Finance Director
01379 644 288
Buchanan Communications
Richard Oldworth
Suzanne Brocks
020 7466 5000