UPDATE 1-CVS FY profit rises, says confident of future

Tue Sep 22, 2009 2:41am EDT

* FY revenue up 23 pct, like-for-like sales up 2 pct

* Says new year started well (Adds details)

Sept 22 (Reuters) - British veterinary services company CVS Group Plc (CVSG.L) posted a 72 percent rise in full-year operating profit aided by growth across all its three operating divisions and said it was confident of its future.

CVS, which operates 61 small animal veterinary practices, said it started the new financial year well with all three operating units continuing to trade profitably.

For the year ended June 30, its operating profit rose to 7.0 million pounds ($11.4 million) from 4.1 million pounds last year. Revenue increased 23 percent to 76.6 million pounds, while like-for-like sales grew 2 percent.

"Our track record of achieving improvements in adjusted EBITDA margin together with the growth opportunities available to us, underpins the Board's confidence in the group's future," Chief Executive Simon Innes said in a statement.

CVS shares closed at 142.5 pence on Monday on the London Stock Exchange. ($1=.6156 Pound) (Reporting by Tresa Sherin Morera in Bangalore; Editing by Gopakumar Warrier)

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