Profits grow for pets group

Veterinary group CVS, which has vets practices across the West Midlands, saw profits grow in the year to the end of June.

Annual profits are up for CVS
Annual profits are up for CVS

Pre-tax profit was up 8.8per cent from £33.1 million in 2020-2021 to £36m with revenue rising 8.6 per cent to £554.2m.

CVS said it was seeing increasing demand for its services as the pet population continued to grow.

The group said there was a six per cent increase in the average number of vets employed in the year. It now employ around 5,000 vets and nurses.

Since the end of June there had been strong growth in the first 10 weeks

Chief executive Richard Fairman said: "Our continued focus on providing the best possible clinical standards, led by our fantastic colleagues who are committed to high quality veterinary care, has contributed to the strength of our performance.

"The veterinary market remains resilient, with an increasing pet population providing favourable dynamics and a strong platform for sustainable growth across our integrated services. Continued investment in our facilities, clinical equipment and our people support this growth; significant enhancements to our pay and benefits ensure we remain an attractive employer, and we are recruiting more graduates than ever before."

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