Norfolk vet group CVS sees revenues grow as acquisition trail continues apace
PUBLISHED: 10:06 31 July 2017 | UPDATED: 17:25 31 July 2017
A veterinary group has seen turnover grow thanks to acquisitions and a strong performance from its online animal medicine division.
CVS Group, which is based in Diss, saw like-for-like growth of 6.3% for the 12 months to June 30 compared to the same period the year before.
The business bought 42 surgeries in the second half of the year including Willow Veterinary Clinic Norwich and Eagle Veterinary Group, in Halesworth.
For all 62 surgeries bought during the year the group paid £47.4m.
It now operates 422 clinics, 413 in the UK and nine in the Netherlands, as well as an online dispensary, four diagnostic laboratories and seven pet crematoria.
CVS, a member of the EDP/EADT Top 100 list of Norfolk and Suffolk’s biggest companies by turnover, said revenue and profits were anticipated to be in line with market expectations.
Animed, the group’s online arm, was cited as performing strongly which the group put down to management initiatives.
In a statement CVS said: “The board anticipates further like-for-like growth in line with normal levels and the impact of the acquisitions made during the year ended June 30 2017 will add significantly to the profitability of the group.
“Further acquisitions and general progress across all of the group’s divisions are expected.”