CVS posts jump in H1 sales on strong Animed performance

Integrated veterinary services provider CVS posted a rise in first-half sales on Thursday thanks to strong growth at its online pharmacy and retail business, Animed Direct.

In a trading statement for the half-year to 31 December, the AIM-listed company said group like-for-like sales were up 5.6% compared to the same period a year ago, adjusting for one less trading day, with solid sales growth in Animed Direct. Excluding Animed, group LFL sales were 3% higher, with stronger LFL trading in November and December.

Since the start of the current financial year on 1 July to date, CVS has made 29 acquisitions, bringing the total number of surgeries to 453.

"The pipeline of acquisitions remains strong and CVS expects to continue to complete acquisitions in the UK and the Netherlands throughout this year and beyond. Our diverse, integrated model means that acquired businesses not only contribute towards our continuing success, but also benefit from being part of a larger integrated group better able to serve customers' needs."

At 1015 GMT, CVS shares were up 20% to 1,238p.