Description of CVS’ business

CVS Group Plc is one of the Leading veterinary services provider in the UK. The Group has four main business areas: veterinary practices, diagnostic laboratories, pet crematoria and Animed Direct, our online business. The passion of our people for animals and for making your pets our priority is at the heart of our work every day. CVS operates 256 surgeries, usually trading under local business names. These surgeries include three locations which are wholly referral practices providing first class specialist treatment. We have also launched Pet Medic Recruitment business which recruits locums and permanent staff for both our own and third party practices and a buying group known as Mi Vet Club. During the 2013 we began the development of our own brand, MiPet, products. The first two products, Pro-bind (a gut protective) and Active+ (a joint supplement), were launched in July 2013. The own brand label will protect our market as well as our margins and, whilst the initiative is currently limited in scale, further products will be developed during 2014.

CVS(UK)Limited was established in August 1999 to acquire and operate veterinary practices which were well established within their local communities and had a reputation for high quality service. The Company strategy recognises that the value of veterinary businesses lies in the quality of their staff and the relationship they enjoy with their existing clients.




Professional management expertise and other services are therefore provided centrally to all Group practices, relieving them of their administrative burden and enabling local staff to concentrate on clinical care.

The Directors believe that several factors are currently contributing to a growth in the market for veterinary services in the UK, based on growing and ageing pet populations, advances in veterinary medical science, changes in the demographic profile of the human population and a growth in the pet insurance industry.

Building on these underlying growth prospects, and capitalising on other drivers that are encouraging vets to sell their practices to corporate operators, CVS has expanded by acquisition into the market and established a leading position as a national consolidator and operator of veterinary practices and laboratories.

CVS is incorporated in England and currently operates in England, Wales and Scotland.

Final Results


· Revenue up 19.0% to £142.9m

· Like-for-like5 sales growth for the Group of +6.9%

· Animed Direct revenue up 74.3% to £8.5m

· Healthy Pet Club members up over 45% to 162,000

· Adjusted EBITDA up 19.7% to £19.7m

· Adjusted earnings per share up 17.3% to 19.0 pence per share

· Acquired and integrated 18 surgeries during the year

· 6 surgeries acquired after the year end

· Now operate 268 surgeries

· Acquired Silvermere Haven Crematorium


http://www.moneyam.com/action/news/showArticle?id=4888522

Sharecast -


CVS Group non-exec more than doubles stake

Mon, 27 October 2014

CVS Group non-exec more than doubles stake

CVS Group said on Monday that one of its non-executive directors, Mike McCollum, more than doubled his stake in the veterinary services provider.
McCollum bought 30,000 shares at 370p apiece, taking his holding to 50,000.

The £111,000 purchase comes around a month after the group posted a 17.8% year-on-year rise in pre-tax profits to £14.3m.

Revenues were up 19% at £142.9m and adjusted earnings before interest, tax, depreciation and amortisation rose by 19.7% to £19.7m.

The share price has risen almost 7% since the publication of the results.

The group proposed a dividend payment of 2.5p, up 0.5p from a year earlier.

The good news has helped shares rise almost 7% in the period since their release. They are up more than 42% in the year-to-date.

Signal Update

Our system’s recommendation today is to BUY. The BULLISH STOP LOSS pattern finally received a confirmation because the prices crossed above the Stop Loss level which was at 374.7500, and our valid average buying price stands now at 390.5000. The previous SELL signal was issued on 15/10/2014, 20 days ago, when the stock price was 370.5000. Since then CVSG.L has risen by +5.40%.

Market Outlook

A rally after a bear setup can occasionally turn into an explosive long trade. We may be on the verge of catching one of them. There is now a strong positive sentiment in the market despite the absence of a bullish pattern. The bullish stop loss is finally confirmed and a BUY signal is generated. Market wants to reward the bulls. It may be now the right time to be part of this boost and bullish market sentiment by joining the growing bullish crowd.



http://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=CVSG.L

Ex dividend Thurs 4 Dec 2.5p

CVS Group: PeelHunt ups target price from 400p to 475p and maintains a 'buy' recommendation

10 Dec Investec 510.00 Buy

Final dividend
The directors are recommending a final dividend for the year ended 30 June 2014 of two and a half pence per ordinary share. If approved, the final dividend will be paid on 22 December 2014 to shareholders whose names appear on the register at the close of business on 5 December 2014.

CVS Group: Berenberg raises target price from 410p to 560p and maintains a 'buy' recommendation

Jim Slater -


Jim Slater has a substantial holding in CVS, which operates vets’ practices and pet cemeteries

My family has a substantial shareholding in CVS Group, which at 472p has a market value of £280m. Yet another of Peel Hunt’s 17 top growth picks, the company operates veterinary practices and diagnostic businesses, pet crematoria and an online pharmacy. In Britain 46pc of households have pets and the pet population is continuing to grow rapidly. CVS has excellent free cash flow and frequently uses it to make acquisitions to increase its network of surgeries across the country. The shares are on a high prospective p/e ratio of 21, but with forecasts of strong growth which are likely to be revised upwards because “like-for-like” sales, which strip out the effects of new surgeries, were up by 8.7pc in the first four months of the firm’s financial year



http://www.telegraph.co.uk/finance/personalfinance/investing/shares-and-stock-tips/11376838/Jim-Slater-two-more-IHT-free-Aim-shares-to-add-to-your-portfolio.html

3 Feb Investec 571.00 Buy

Shares - CVS (CVSG:AIM) 467.25p
The second-largesT veterinary services
business in the UK has 272 vet practices
across the country. We’d argue cVs has
attractive defensive qualities as pet owners
will always shell out the cash for any
treatment as pets are generally considered
as family members. The pet insurance
market continues to expand and consumer
confidence is also growing – adding up to
an attractive backdrop for the small cap
business as spending increases on pet
healthcare. cVs has bought 20 new vet
practices annually since 2007 and intends
to keep consolidating the industry. It is expanding in the large animal
market, so expect horses and farm animals to play a bigger role for
revenue generation – handy as they account for nearly half the £2.9
billion UK vet services markets, says Berenberg. The bank forecasts
£17 million pre-tax profit for 2015, rising to £19 million in 2016. The
dividend isn’t overly generous on a prospective 0.6% yield, but 7.7%
compound annual growth rate in eBITda forecast for the next three
years is attractive.

Interim results


Sales growth of 19.0%

· Like-for-like sales increase of +10.0%

· Adjusted EBITDA up at £11.8m (+30.4%)

· Adjusted EPS 12.9p (+34.5%)

· Net debt £28.7m (June 2014: £31.3m)

· Ten practice surgeries acquired during the period

· Five surgeries acquired after the period end

· Loyalty scheme membership increased by almost 39% since December 2013 to 192,000


///////////////////////////////////////////////////////////////////////////////////////////////////


20 Mar Investec 600.00 Buy
20 Mar N+1 Singer N/A Corporate

CVS Group PLC (CVSG:LSE) set a new 52-week high during Friday's trading session when it reached 536.00. Over this period, the share price is up 76.09%.

IC - Analysts have again raised profit forecasts for CVS Group following a bullish set of half year results. Charles Hall of Peel Hunt said the upgrade marked the fourth for the veterinary service group in the past year alone.

Acquisition of your vets and new banking facility


30 Mar Berenberg 560.00 Buy
30 Mar Investec N/A Buy
30 Mar N+1 Singer N/A Corporate

CVS Group plc has announced the agreement to acquire Your Vets, a provider of small animal veterinary services in the West Midlands and Essex comprising seven surgeries. This is being facilitated through new debt facilities also announced today. The recent results were excellent and the bankers certainly seem to like them.

New research note at http://tinyurl.com/oxynt27

CVS Group PLC (CVSG:LSE) set a new 52-week high during today's trading session when it reached 597.00. Over this period, the share price is up 95.90%.

Shares - stick with CVS. CVS has enviable defensive qualities and is well placed to consolidate the fragmented UK veterinary market .

CVS Group PLC (CVSG:LSE) set a new 52-week high during today's trading session when it reached 651.50. Over this period, the share price is up 117.3%

Trading Update
RNS
RNS Number : 0621U
CVS Group plc
27 July 2015



27 July 2015



CVS Group plc ("CVS" or the "Group")



Trading Update



CVS, the UK's leading provider of integrated veterinary services, is pleased to provide the following trading update in respect of the financial year ended 30 June 2015. Comparative data relates to the year ended 30 June 2014 unless otherwise stated. The Group will announce its full year results on Friday 25 September 2015 and these are expected to be in line with market expectations.



Group revenue for the year showed total like-for-like growth of 6.8%.



Organic growth continues in the core veterinary practices. As indicated at the time of the interim results in March, growth was high during the first half of the year but returned to a more normal level in the second half. Membership of our Healthy Pet Club loyalty schemes grew by 51,000 (32%), from 162,000 pets at the start of the year to 213,000 at the year end. In the previous year membership grew by 50,100. Based on the current run rate these schemes are now contributing 13% of the total revenue from practices (2014: 11%).



Good growth has continued in our referrals business and our new Lumbry Park referral centre is expected to open in September 2015.



Acquisition activity during the year showed a significant increase with 29 surgeries, in 13 Veterinary Practices, being acquired during the year and the Dovecote referral practice in Castle Donington being acquired subsequent to the year end. Since the last update at the time of the acquisition of YourVets the following practices have been acquired: Crooks & Partners (2 sites in May 2015), Petherton (2 sites in May 2015) and Marlborough Road (2 sites in May 2015).



Whitley Brook Pet crematorium, in Runcorn, was acquired in April 2015. The Crematoria Division now performs virtually all the crematoria work for our Practice Division. The acquisition of Whitley Brook helps to achieve our geographic coverage and will therefore allow that work to be performed more efficiently as well as relieving some capacity pressures at the Rossendale crematorium.



All of these acquisitions have been successfully integrated into the Group. The aggregate turnover of acquisitions in their last financial year prior to acquisition totalled £24m. The actual post acquisition turnover of businesses acquired during the year ended 30 June 2015 was £7.8m.



The Group now operates a total of 291 veterinary surgeries across the UK, an on-line dispensary, five diagnostic laboratories and four pet crematoria.



The Board anticipates further like-for-like growth over the coming year, albeit at more normal levels. Further acquisitions and general progress in all of the Group's divisions are expected.