CVS Group (AIM:CVSG) PLC reported on Friday solid growth in half-year revenue and profit and said it remains confident the outcome for the full year will be in line with market expectations.
The provider of integrated veterinary services said revenue in the six months to 31 December 2022 rose 8.2% to £296.3mln from £273.7mln the year before, while pre-tax profit totalled £28.0mln compared to £22.9mln in the same period in 2021. Earnings per share were 29.6p against 24.7p.
Organic growth has continued with 7.5% like-for-like sales growth, within the organic revenue growth ambition of between 4% and 8%, the company said in a statement.
Adjusted EBITDA margin improved to 19.5%, a like-for-like improvement of 0.5 percentage points, while membership of its preventative healthcare scheme, Healthy Pet Club increased to 481,000, up 4.3%.
CVS said demand for its high-quality veterinary services remains robust and the positive performance of the first half continued into the first month of the second half.
“The board remains confident that full-year results will be in line with market expectations,” the statement said.
Chief executive Richard Fairman said: “The robust performance in H1 2023 has continued into the second half of the year and we look forward to reporting further growth in the future."
CVS paid an interim dividend of 7p per share, up from 6.5p in the same period in 2021.