Shares in veterinary chain operator CVS Group (AIM:CVSG) rose 10% after it posted full-year result in line with expectations, with improving trading momentum and solid progress in its UK and Australian operations
Revenue from continuing operations rose 5.4% to £673.2 million for the year to 30 June 2025, while like-for-like sales were roughly flat, up 0.2%, with the core veterinary practice division up 1.0%.
Sales improved in the final quarter of the year, and chief executive Richard Fairman said the new financial year was off to a strong start with positive like-for-like trends continuing and two further Australian acquisitions completed.
Adjusted EBITDA rose 9.4% to £134.6 million, reflecting disciplined cost control and higher R&D tax credits, while the adjusted EBITDA margin improved to 20.0%.
Profit before tax from continuing operations fell 7.4% to £32.6 million due to increased finance and depreciation charges. Statutory profit rose to £53.0 million after a £33.5 million gain from the sale of the group’s Crematoria operations.
The board recommended a final dividend of 8.5p per share.
Analysts at Peel Hunt said the UK had been slow due to the lingering impact of the CMA investigation and pressure on consumers, though the CMA outcome is "likely benign".
The shares climbed 128p to 1,378p on Tuesday morning.