Business
Final results for the year ended 30 June 2023
Final results for the year ended 30 June 2023.
About this update from Cvs Group Plc
[{"type":"text","content":"\n\nFor Immediate Release 21 September 2023\nCVS GROUP plc\n(\"CVS\", the \"Company\" or the \"Group\")\nFinal results for the year ended 30 June 2023\n \nStrong results reflect continued customer demand for high-quality clinical care and investment in growth\n \nCVS, the UK listed veterinary group and a leading provider of veterinary services, is pleased to announce its final results for the year ended 30 June 2023 (\"2023\").\n \nFinancial Highlights\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n£m except where stated\n\n\n2023\n\n\n2022\n\n\nChange %\n\n\n\n\n\n\n\n\nRevenue\n\n\n608.3\n\n\n554.2\n\n\n9.8%\n\n\n\n\n\nGroup like-for-like (\"LFL\") sales growth (%)1\n\n\n7.3%\n\n\n8.0%\n\n\n-0.7 ppts\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAdjusted EBITDA2\n\n\n121.4\n\n\n107.4\n\n\n13.0%\n\n\n\n\n\nAdjusted EBITDA2 margin (%)\n\n\n20.0%\n\n\n19.4%\n\n\n+0.6 ppts\n\n\n\n\n\nAdjusted profit before tax3\n\n\n85.4\n\n\n75.5\n\n\n13.1%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAdjusted earnings per share4 (p)\n\n\n96.0\n\n\n85.8\n\n\n11.9%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nOperating profit\n\n\n62.3\n\n\n42.8\n\n\n45.6%\n\n\n\n\n\nProfit before tax\n\n\n53.9\n\n\n36.0\n\n\n49.7%\n\n\n\n\n\nBasic earnings per share (p)\n\n\n58.8\n\n\n36.2\n\n\n62.4%\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n\n\n\nNet bank borrowings5\n\n\n74.0\n\n\n36.0\n\n\n105.6%\n\n\n\n\n\nFinal dividend (p)\n\n\n7.5\n\n\n7.0\n\n\n7.1%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n· Revenue increased by 9.8%, to £608.3m (2022: £554.2m), with Group like-for-like1 sales growth of 7.3% in line with the Group's stated organic revenue growth target of between 4% and 8%, reflecting continued demand for the Group's high-quality clinical care\n· Adjusted EBITDA2 growth of 13.0%, to £121.4m (2022: £107.4m), underpinned by strong revenue performance and the continued investm...