CVS Group plc LSE:CVSG
- Incorporated
- United Kingdom
- Chief executive
- Richard Fairman
- Employees
- 8,864
- Reports in
- GBP
- Companies House
- 06312831
Read straight from the annual reports
1,140p at close on 2 Oct 2026 · 11 reported years, 2015–2025
| Line | FY201506/15 | FY201606/16 | FY201706/17 | FY201806/18 | FY201906/19 | FY202006/20 | FY202106/21 | FY202206/22 | FY202306/23 | FY202406/24 | FY202506/25 | FY2026unreported |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | vs 588.9 | later 638.7 | ||||||||||
| Gross profit | vs 258.1 | later 268.7 | ||||||||||
| Operating profit | vs 68.4 | later 47.8 | ||||||||||
| Exceptional items | — | vs 0 | vs 0 | |||||||||
| Net finance cost | ||||||||||||
| Profit before tax | vs 60.7 | later 35.2 | ||||||||||
| Adjusted profit before tax | vs 87.9 | later 79.0 | ||||||||||
| Tax charge | ||||||||||||
| Profit for the year | ||||||||||||
| EBITDA | ||||||||||||
| Adjusted minus statutory PBT | ||||||||||||
| Basic EPS | ||||||||||||
| Diluted EPS | ||||||||||||
| Adjusted EPS | ||||||||||||
| Dividend per share |
GBP millions, negatives in brackets. Per-share lines in pence, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
11 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
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Healthy Pet Club (HPC) preventative-care membership scheme
HPC membership grew 3.2% to 519,000 members at June 2025 from 503,000; HPC revenue £92.2m (2024: £84.7m)
page 102Acquisitions, particularly in Australia
Seven Australian practice acquisitions completed in FY25 for £29.2m initial consideration (15 practice sites); revenue growth benefited from acquisitions made in current and prior years
page 6Employers' National Insurance and national living/minimum wage increases from April 2025
Annualised cost impact estimated at c.£3m (NIC) and c.£8m (NLW/NMW)
page 48Research and Development Expenditure Credit (RDEC) recognition
Net RDEC benefit increased to £15.1m (2024: £12.8m) after reduced discounting on unsubmitted claims given successful claim history
page 48£3.9m charge: Competition and Markets Authority (CMA) investigation costs
page 132Chair: 'market fundamentals remain attractive'; confident in returning to like-for-like growth ambition of 4-8% over the medium term as the COVID-19 cohort of puppies/kittens ages and the CMA investigation concludes
page 7Completed acquisition of Toorak Rd Vet Clinic & Caulfield Veterinary Hospital, Australia, 2 July 2025 (trade and asset deal)
page 158Progressive and sustainable ordinary dividend policy based on growing dividend per share over time; proposed final dividend of 8.5p per share (2024: 8.0p), subject to AGM approval on 18 November 2025, payable 5 December 2025; Board also considers return of capital via special dividends or share buybacks
page 97Directors adopted the going concern basis; £350.0m total facilities (term loan £87.5m, RCF £262.5m) to February 2028 plus £5.0m overdraft, £202.5m of RCF undrawn at year end; no covenant breaches (net debt/bank-test EBITDA 1.18x vs 3.25x covenant). Deloitte LLP (Julian Rae, Senior Statutory Auditor) issued an unqualified ('true and fair') opinion with no material uncertainty regarding going concern; key audit matters were Revenue Recognition - Healthy Pet Club, Valuation of the R&D Expenditure Credit (RDEC), and Business Combinations (valuation of Patient Data Record intangibles)
page 117- Key employees - failure to attract or retain veterinary staff and future leadersp.54
- Geopolitical - macro and external factors (cost of living, tariffs, supply chain, international conflict) affecting demand/supplyp.54
- Competition and consumer demand - failure to deliver high-quality, competitive service in a crowded market including independents and online retailp.55
- Adverse publicity and corporate reputation, including impact of CMA-related press scrutinyp.55
Read from C000353-AR-2025-ch.
10 annual reports read, FY2016 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (10)
FY2026Next report expected 30 Sept 2026