30 Apr 2021
Sales remain strong for corporate veterinary group as full-year revenue expected to be “comfortably ahead” of management expectations.
James Westgate
Job Title
Image: © grapestock / Adobe Stock
CVS has announced an update on trading and outlook for the current financial year.
In interim results released on 25 March 2021, the company reported strong performance for the first eight months of the current financial year – and that momentum has continued, with sales remaining strong and a steady increase in customer demand from the end of the last quarter.
The statement continued: “The RCVS issued revised guidance towards the end of March 2021, transitioning from essential services only to allowing the full range of procedures subject to professional judgement and appropriate biosecurity.
“This, coupled with the continued delivery of the vaccination programme and further easing of lockdown restrictions, means the board is increasingly confident that this strong performance will continue for the remaining months of this financial year.
“Consequently, the group now expects full-year revenue to be ahead of current management expectations and adjusted [earnings before interest, taxes, depreciation and amortisation] to be comfortably ahead.”
CVS has also announced the acquisition of Greensands Veterinary Clinic, a small animal practice in Hertfordshire, which completed on 29 April 2021.
The company plans to provide further details on its financial results for the year ending 30 June 2021 in a pre-closed period statement, expected to be issued on 20 July 2021.
