CVS Group PLC (LON:CVSG) shares jumped as the veterinary services firm said it expects earnings to beat market forecasts after taking action to improve its performance.
In the year to date, like-for-like sales are up 5.4%, led by a 4.4% rise in the core vet practices business.
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For the full year, the group expects revenue to be in line with market forecasts.
However, adjusted earnings (EBITDA) will be “comfortably ahead” of analysts’ estimates after reducing the number of locums used for its vet practices to bring down employment costs.
CVS said it would provide further details on its full year results in a pre-close statement next month when it also update investors on the progress of its strategy to revive the business.
Shares rose 6.7% to 660p in morning trading.