CVS Group plc Trading Statement (1973C)
18 January 2018 - 6:00PM
UK Regulatory
TIDMCVSG
RNS Number : 1973C
CVS Group plc
18 January 2018
This is a repeat of RNS 1892C in its original form
CVS Group plc ("CVS" or the "Group")
Trading Statement
CVS, the UK's leading provider of integrated veterinary
services, is pleased to provide the following update on headline
trading in respect of the financial half-year ended 31 December
2017 ("H1 2018").
In H1 2018, the Group's like-for-like sales(1) grew by 5.6%
compared to the same period last year (after adjusting for one less
trading day compared to the half year ended 31 December 2016).
The strong growth in sales of Animed Direct has continued.
Excluding Animed Direct, like-for-like sales for the Group grew by
3.0%. This figure is a marked improvement on the figure observed at
the time of the Group's November update for the 4 months to 31
October 2017, which reflected a particularly strong performance in
the comparative period in 2016. The recovery primarily reflects
stronger like-for-like trading in November and December.
Since the start of the current financial year on 1 July 2017, up
to the date of this statement, the Group has made a total of 29
acquisitions of 30 surgeries bringing the total number of surgeries
to 453. The total consideration for the above acquisitions was
approximately GBP28m.
Acquisitions since the AGM update on 30 November 2017 are:
Practice No. Main locations Region & Business
name of Country
sites
--------------------- ------- ------------------ ---------------- --------------
Ruddington 2 Ruddington, E. Midlands Small animal
Vets East Leake
--------------------- ------- ------------------ ---------------- --------------
Victoria 1 Bristol S.W. England Small animal
Veterinary
Clinic
--------------------- ------- ------------------ ---------------- --------------
Dierenartsenpraktijk 1 Emmelord The Netherlands Farm animal,
NordOostpolder small animal
& equine
--------------------- ------- ------------------ ---------------- --------------
Beacon 2 Aspatria, Silloth N.W. England Farm animal,
small animal
& equine
--------------------- ------- ------------------ ---------------- --------------
Wessex Equine 1 Thornhill S.W. England Equine
--------------------- ------- ------------------ ---------------- --------------
Dierenkliniek 2 Sneek, St. The Netherlands Small animal
Sneek Nicolaasga
--------------------- ------- ------------------ ---------------- --------------
The pipeline of acquisitions remains strong and CVS expects to
continue to complete acquisitions in the UK and the Netherlands
throughout this year and beyond. Our diverse, integrated model
means that acquired businesses not only contribute towards our
continuing success, but also benefit from being part of a larger
integrated group better able to serve customers' needs.
Note:
1. Like-for-like sales data comprise revenue generated from all
operations compared to the prior year and includes revenue from
acquired businesses with effect from the date and month in which it
was acquired during the previous year
This announcement is released by CVS Group plc and contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) 596/2014 ("MAR"), encompassing information
relating to the trading statement described herein, and is
disclosed in accordance with the Company's obligations under
Article 17 of MAR.
For the purposes of MAR and Article 2 of Commission Implementing
Regulation (EU) 2016/1055, this announcement is being made on
behalf of the Company by Nick Perrin, Financial Director.
Contacts:
CVS Group plc 01379 644 288
Simon Innes, Chief Executive
Nick Perrin, Financial Director
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
END
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