CVS profit jumps 79%, positive outlook

22nd Sep 2009 10:20

Shares in CVS gained after the vet services supplier reported a 71.9% jump in full-year operating profits and said it is confident in the group's future.Operating profit rose to £7.01m in the year ended 30 June compared with £4.08m last time. Revenue was up 23.3% to £76.61m, with like for like sales growth of 2%.The new financial year has also started well, the group said, with all three operating divisions continuing to trade profitably.'The focus on the delivery of growth, both organically and through acquisition, across all divisions as well as the focus on the generation of cash and profit, will continue,' said chairman Richard Connell.'Having delivered strong results in a period of general economic uncertainty, we are confident that the group is well positioned to continue driving the business forward,' he added.