|
CVS Group PLC on Friday reported higher revenue and earnings for the first half of financial 2026, while reaffirming its full-year outlook, and separately confirmed plans to move its shares to the London Main Market later this month. The Norfolk, England-based provider of veterinary services said group revenue increased 5.8% year-on-year to £356.9 million in the six months to December 31 from £337.3 million a year earlier. Like-for-like sales rose 2.7% over the period. Adjusted earnings before interest, tax, depreciation and amortisation climbed 3.9% to £67.7 million from £65.1 million, while the adjusted Ebitda margin edged down slightly to 19.0% from 19.3%. CVS said the margin performance was in line with its medium-term ambitions. The group invested £17.5 million during the half year, up from £16.3 million a year earlier, focusing on technology, clinical equipment, practice refurbishments and relocations. In Australia, CVS said trading remains in line with board expectations. During the financial year to date, the group completed three acquisitions comprising 11 practice sites for aggregate initial consideration of A$55.1 million, around £26.8 million, and has exchanged contracts on a further single-site acquisition. On regulation, CVS noted that the Competition and Markets Authority published its provisional decision in October following its veterinary market investigation. The company said the proposals have brought additional clarity ahead of the CMA’s final decision, due in spring 2026, and that it remains engaged on the proposed remedies. Looking ahead, CVS said it remains mindful of UK cost-of-living pressures and subdued consumer confidence, but added that sector fundamentals remain strong. The board reiterated that it expects to deliver full-year financial results for 2026 in line with its expectations. Interim results are due on February 26. Separately, CVS confirmed the move of its shares from AIM to the Main Market of the London Stock Exchange. Admission is expected to take place on Thursday, with trading on AIM cancelled at the same time. CVS shares were up 1.0% at 1,356.00 pence in London on Friday afternoon. Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
