CVS Group expects to report full year revenue growth of 5.9% to £712.8mn, driven by like-for-like (LFL) sales growth of 2.1% and acquisitions.
Underlying cash profit (EBITDA) is set to grow 5.1% to £141.5mn in line with market expectations.
The group spent £45.6mn acquiring 14 sites in Australia, while net bank debt increased by £68.2mn to £199.6mn.
The group has completed £11.7mn of the ongoing £50mn share buyback programme, with the remainder to be completed by November 2026.
Looking ahead, CVS believes there is a strong pipeline of acquisition opportunities in Australia. In the UK, weak consumer confidence is impacting visitor numbers to its vet practices.
The shares fell 5.7% in early trading.
Our view
HL view to follow.
CVS Group key facts
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