24 Jul 2025
Bosses have delayed sharing their full-year results until after the expected publication of the authority’s provisional decisions, but hope it will improve the outcome.
Allister Webb
Job Title
Original image © alesmunt / Adobe Stock
A major care provider says it is hopeful of a “proportionate” outcome from the extended investigation of veterinary services.
The message came as the CVS Group announced plans to publish its full-year results in October, after the expected publication of the Competition and Markets Authority’s (CMA) provisional decisions.
Following the extension of the inquiry’s statutory timetable last month, those proposals are now expected to be published.
A trading update issued this morning (24 July) said the group’s plan to publish results for the year to the end of June on 7 October “should enable stakeholders to have more visibility and details” of the CMA’s decisions at that point.
It was later confirmed that the group had initially planned to release its results at the end of September.
The statement continued: “The group continues to engage proactively with the CMA and has submitted a detailed response to their recent remedies working paper.
“While we are disappointed with the CMA’s decision to extend the statutory timetable, we are optimistic that the extension will improve the ultimate remedy package and ensure it is proportionate.
“The board looks forward to the publication of the Provisional Decision by the CMA in September 2025.”
The update further reported that “softer market conditions” in the UK had affected like-for-like sales, though both they and revenues grew in the final quarter.
Seven practice acquisitions in Australia, covering 15 individual sites, were also completed during the year to June, with two more completed subsequently.
The group added that it expected to report an adjusted EBITDA figure “in line with market consensus”.
