28 Jul 2022
Group reports an increase in like-for-like sales of 8%, as well as a rise in the number of vets it employs.
James Westgate
Job Title
CVS has reported strong sales growth, as well as an increase in the number of vets it employs in its latest trading update.
CVS Group – which has more than 500 practices across the UK, Ireland and Europe – saw like-for-like sales growth of 8% for the past financial year, while the number of vets it employs increased by 6%.
The trading update showed the company now employs 2,100 vets and a further 3,000 vet nurses, and has a vet vacancy rate of 10.4% – up on last year’s level of 8.3%.
Membership of the CVS health care scheme increased by 20,000 to 470,000 members, while there were three new UK practice acquisitions, the latest being Werrington Vets, a single-site companion animal practice in Peterborough, with the sale being completed on 27 July.
In a statement, CVS said it expects the veterinary market to continue to grow due to the “humanisation of pets”, while it is confident clinical advancement will underpin “attractive and resilient long-term organic growth”.
The statement added: “While the board is mindful of inflationary pressures and the wider economic backdrop, the group is very well placed for further growth in FY23 and beyond.”
