Business
Trading update and Acquisitions
Trading update and Acquisitions.
About this update from Cvs Group Plc
[{"type":"text","content":"\n \nRNS Number : 9327K CVS Group plc 25 July 2011 \n \n\n\n\n\n\nImmediate Release\n\n\n25 July 2011\n\n\n\n\n \n \nCVS Group plc\n \nTrading update and Acquisitions\n \nThe Board is pleased to announce that it expects results for the year ended 30 June 2011 to be in line with market expectations. Like for like turnover for the year showed growth in the region of +0.4%, with the second half delivering like for like sales growth in the region of +3%.\n \nThe Board is also pleased to report further acquisition activity in the second half of the financial year, with RH Campbell, Attimore and Clarendon House veterinary clinics being added to the Group's practice division. Net debt at 30 June was in line with market expectations, being in the region of £34 million, after having funded these acquisitions. \n \nRH Campbell is a single site practice in Swansea acquired in January 2011. The turnover of the practice for the year ended 30 November 2010 was in the region of £0.3 million.\n \nAttimore Veterinary Group is a five site practice in and around the Welwyn Garden City area acquired in April 2011. The turnover of the practice for the year ended 30 November 2010 was in the region of £1.3 million.\n \nClarendon House Veterinary Group is a three site practice in and around the Chelmsford area acquired in May 2011. The turnover of the practice for the year ended 30 September 2010 was in the region of £1.1 million.\n \nAll three acquisitions provide a good geographical fit with the Group's existing surgery locations.\n \nIn total the Group now operates 223 surgeries, 6 diagnostic laboratories, 1 pet crematorium and an online dispensary across the UK and remains the largest operator in a highly fragmented market.\n \nThe Board of Directors confirms that the preliminary results for the year ended 30 June 2011 will be announced on Tuesday 27 September 2011.\n \nFor further enquiries please contact:\n \nCVS Group plc: 01379 644 288\nSimon Innes - Chief Executive\nPaul Coxon - Finance Director\n \nBuchanan Communications: 020 7466 5000\nRichard Oldworth\nChristian Goodbody\n \nBrewin Dolphin Investment Banking: 0845 059 6412\nNick Owen\nMatt Davis\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END T...