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CVS Group PLC on Thursday reported swelling membership of its Healthy Pet Club, helping drive revenue growth. The Norfolk, England-based veterinary services provider said revenue climbed 11% to £329.9 million in the six months to December 31 from £296.3 million a year prior. The adjusted earnings before interest, tax, depreciation and amortisation margin remained consistent with the prior half-year at 19%, with a slight improvement in gross margin, CVS said. Membership in the Healthy Pet Club, a preventative care scheme, rose by 4.0% to 500,000 as at December 31 from 481,000 a year prior. Looking ahead, CVS expects to deliver results in line with market expectations, which it didn’t specify, for the financial year ending June 30, despite a ‘weak economic backdrop’. CVS will report full half-year results on February 29. ‘The group remains excited by the growth opportunity in Australia with acquisitions made to date performing in line with its business case and a strong pipeline of acquisition opportunities in place,’ CVS said. ‘The group remains on track to deliver further growth over the longer term.’ CVS shares were 0.1% lower at 1,646.00 pence each on Thursday morning in London. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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