CVS (AIM:CVSG) fantastic results and plenty more to go for
The UK’s leading providers of veterinary services issued a truly fantastic set of results for the year ended 30 June 2015 just ahead of estimates leading to more broker upgrades. While acquisitions boosted the numbers there was plenty of organic growth as well with business model starting to work a treat.
CVS Group is managed across four divisions: Veterinary Practices, Laboratories, Crematoria and Animed Direct, an on-line dispensary and retailer. Veterinary Practices are the core of our business but all areas of the Group made excellent progress towards our strategic priorities during 2015.
Overall Group Revenue grew 17.0% to £167.3m with like-for-like sales up 6.8%. Adjusted EBITDA (plenty of amortisation added back) was up 25.9% to £23.0m adjusted EPS up 30.0% to 24.7p.
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