Shares in CVS Group (AIM:CVSG) were little moved by its trading update, with analysts saying there was little new news, as focus remains on the ongoing Competition and Markets Authority review of the veterinary services sector.
Revenue growth was up 11.9% in the four-month period to 31 October and EBITDA margins were in line with a year ago at roughly 19%.
The group also announced four new acquisitions and drew attention to the launch of its new clinical governance framework, "demonstrating our commitment to driving standards of care across the veterinary profession".
The shares were down less than 0.5% at 1,492p on the morning of the update.
Analysts at Liberum said the numbers were tracking in line with consensus expectations.
"That aside there wasn’t much in the way of new information.
"The CMA review continues to cast a shadow over the sector and while we note positive comments made by Pets at Home yesterday, the clouds aren’t likely to part until early in 2024 when the CMA releases its initial findings."
Liberum said its view is that there is a "50% chance" that the CMA will conclude that there isn’t a case to answer.
"And if we are right then the shares will gap up to north of 2000p," analysts said.