CVS Group plc (CVSG) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

welcome to this presentation of cbs group plc's financial results for the year ended 30th of june 2023 i'm richard fairman ceo and i'm joined by ben jacklin deputy ceo and robin alfonso cfa this analyst call is being recorded and the recording will be uploaded to our website later today now this presentation is focused on our full year results however before Before we get into the detail of the results, I wish to discuss the recently announced Competition and Markets Authority review of veterinary services provided to household pets in the UK. As set out on slide two, the CMA announced on the 7th of September that they are undertaking a review looking at consumer experiences and business practices in the provision of veterinary services for household pets in the UK. Now, this is a voluntary market review under Section 5 of the Enterprise Act 2002. I understand that such reviews are used by the CMA to help them better understand a particular market. And they've recently undertaken market reviews in other sectors, such as AI foundation models and the grocery sector. So this review is not specifically aimed at CVS and is an industry-wide review. We will fully support the CMA in its process, and we expect to meet with the CMA in the next few weeks and also to provide written responses to their questions. We're also encouraging our colleagues to participate in the review and to provide responses to the CMA's surveys. The CMA have indicated that they will give an update on their review in early 2024. Our strategy remains unchanged and we will continue to focus our efforts in supporting our colleagues to provide great care to our clients and their animals. This is as much as we can say at the current time. So returning to our full year financial results. The agenda for our ...