CVS has proposed to pay a dividend of 5.5p per share in December 2019, a 10.0% increase on the 5.0p per share paid in 2018. The financial performance of the business and its strong cash generation support an increase in dividends whilst enabling the Group to retain sufficient funds for further investment in the business.
Other financial highlights include:
Revenue up 24.2% to £406.5m
Like-for-like sales growth for the Group of +5.2% 5
Healthy Pet Club members up 10.8% to 401,000
Adjusted EBITDA up 14.5% to £54.5m
Adjusted earnings per share increased 10.1% to 46.7 pence per share
Cash generated from operations up 11.6% to £52.1m
Profit before income tax down 17.0% to £11.7m due to amortisation costs in relation to acquisitions
Leverage reduced to 2.08x at 30 June 2019
Significant improvement in second half
Now operate 510 surgeries across the UK, the Netherlands and the Republic of Ireland
