UPDATE 1-CVS Group sees FY earnings in line with market view

Tue Jul 14, 2009 2:34am EDT
 
[-] Text [+]

* FY total sales up about 23 pct * Says acquisition pipeline buoyant (Adds details)

July 14 (Reuters) - British veterinary services company CVS Group Plc (CVSG.L) said on Tuesday it expected its full-year earnings before interest, tax, depreciations and amortisation (EBITDA) to be broadly in line with market expectations, aided by organic growth and acquisitions.

For the year ended June 30, the company said total sales rose 23 percent, with 6 million pounds ($9.8 million) of additional sales delivered by businesses acquired during the period.

Like-for-like sales growth was 2 percent for the year.

CVS, which operates 59 small animal veterinary practices from 167 surgeries, said its acquisition pipeline continued to be buoyant.

"Market demographics, the fragmented nature of veterinary practice ownership, the availability of laboratories and pet crematoria combined with the cash generative nature of our business are expected to facilitate future growth," the company said in a statement.

CVS shares closed at 130 pence on Monday on the London Stock Exchange.

($1=.6155 POUND) (Reporting by Tresa Sherin Morera in Bangalore; Editing by Anne Pallivathuckal)

 

Companies In This Article

More News

UPDATE 1-Assura says Q1 trading ahead of own view
Tuesday, 11 Aug 2009 02:41am EDT 
UPDATE 1-PureCircle sees full-year profit up 420 pct
Wednesday, 8 Jul 2009 03:23am EDT 
UPDATE 1-Microgen sees FY profit to top market view
Tuesday, 7 Jul 2009 03:57am EDT 
UPDATE 1-Johnson Service sees satisfactory FY profit
Tuesday, 7 Jul 2009 03:09am EDT 

Featured Broker sponsored link