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CVS Group PLC on Wednesday welcomed government proposals for the pet care sector, which it believes will boost confidence in the industry. The Norfolk, England-based provider of veterinary services noted the recommendation by the UK Department for Environment, Food & Rural Affairs to reform the veterinary surgeons act. CVS operates around 470 veterinary practices in the UK and Australia. The UK government department on Tuesday said providers should offer ‘clearer prices’ for treatments, to boost transparency. Vet care providers also would be required to ‘disclose who owns them so pet owners know if their local practice is part of a larger chain or independent’. Defra also proposed an ‘easier and more effective route for customers to raise concerns’. In response, CVS Group said Wednesday that it has been calling for reform in the sector ‘for some time’, engaging with both the government and the Competition & Markets Authority during a market probe. ‘CVS believes reform will help strengthen consumer confidence in the profession, ensure enhanced regulation including practice level accountability for maintaining appropriate standards,’ the company said. ‘CVS understands the consultation will last for eight weeks and looks forward to continuing its dialogue with DEFRA, and to sharing its thoughts during the consultation.’ CVS Group said it expects to deliver annual results in line with board expectations. Last week, it said in a trading statement that revenue and profit improved for the first half to December 31. Revenue increased 5.8% year-on-year to £356.9 million, while adjusted earnings before interest, tax, depreciation and amortisation climbed 3.9% to £67.7 million. CVS shares were down 0.5% at 1,338.00 pence in London on Wednesday, which is set to be its last day traded on AIM. A move to the London Main Market is expected to be completed on Thursday. CVS, which announced plans for the move in October, has a market capitalisation of £937.3 million, which would comfortably slot it into the FTSE 250 index at the next quarterly review. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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