CVS Group plc AGM Statement (9993P)
November 24 2016 - 1:00AM
UK Regulatory
TIDMCVSG
RNS Number : 9993P
CVS Group plc
24 November 2016
24(th) November 2016
CVS Group plc
("CVS" or the "Group")
Annual General Meeting Statement
CVS, the UK's leading provider of veterinary services, is
holding its AGM at 11:00 am today at which Richard Connell,
Chairman, will provide the following update to shareholders:
"The Board is pleased to announce that in the four month period
ended 31 October 2016 the Group's like-for-like sales grew by 6.3%
compared to the same period last year. Gross margins have improved
and underlying profitability for the period to 31 October 2016 is
ahead of the Board's expectations.
Since the start of the current financial year on 1 July 2016 the
Group made a total of eight acquisitions of 18 surgeries bringing
the total number of surgeries to 378. The acquisitions were:
Practice name No. of sites Main locations Business
------------------------------- ------------- ------------------- --------------
Davidson Veterinary 3 Nottingham Small animal
Care
------------------------------- ------------- ------------------- --------------
Buttercross Veterinary 3 Nottingham Small animal
Care
------------------------------- ------------- ------------------- --------------
Church Walk Vets 2 Ulverston, Small animal
Barrow-In-Furness
------------------------------- ------------- ------------------- --------------
Batheaston Veterinary 1 Bath Small animal
Clinic
------------------------------- ------------- ------------------- --------------
Deveron Veterinary 2 Turriff Small animal,
Surgeons & Macduff large animal
& equine
------------------------------- ------------- ------------------- --------------
Haven Veterinary 1 Great Yarmouth Small animal
Surgeons
------------------------------- ------------- ------------------- --------------
Forrest House Vets 3 Bedale, Small animal,
Northallerton, large animal
Masham & equine
------------------------------- ------------- ------------------- --------------
Kliniek voor Gezelschapsdieren 3 Dieren, Small animal
Dieren Brummer,
Velp (The
Netherlands)
------------------------------- ------------- ------------------- --------------
The acquisition of further practices in the UK has continued the
geographic development of the Group across the country and has
further developed the large animal and equine as well as the small
animal businesses.
Particularly exciting is our first acquisition in The
Netherlands. Kliniek voor Gezelschapsdieren Dieren is a high
quality, small animal practice based in the east of the
Netherlands. It is intended that this acquisition is the start of
the development of a business in The Netherlands on a similar basis
to the CVS Group in the UK.
The pipeline of acquisitions remains strong."
Contacts:
CVS Group plc
Simon Innes, Chief Executive
Nick Perrin, Financial Director 01379 644 288
N+1 Singer (Nominated Adviser & Broker) 020 7496 3000
Aubrey Powell
Liz Yong
James Hopton
This information is provided by RNS
The company news service from the London Stock Exchange
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