CVS Group sees FY results in line with expectations

25th Jul 2011 14:05

CVS Group shares rose after the veterinary practices owner said it expects full-year results to be in line with market expectations and said it has added three veterinary clinics to its practice division. For the year ended June 30, the company said like-for-like turnover recorded 0.4% growth, with the second half delivering like-for-like sales growth of 3%. CVS Group, which has roped in RH Campbell, Attimore and Clarendon House veterinary clinics, said all the three acquisitions provide a good geographical fit with the company's existing surgery locations. Net debt was in line with market expectations and was approximately £34m, after funding the acquisitions, the company said in its statement. Shares of CVS Group gained 0.7% to 110p in London.AR