CVS Group plc (CVSG.L), a provider of integrated veterinary services, Thursday reported profit before tax from continuing operations of 38.2 million pounds for the full year, lower than 60.7 million pounds in the previous year, primarily on higher finance expenses as well as exceptional costs relating to business combinations, cyber incident and CMA market investigation.
Excluding one-time items, adjusted profit before tax declined 5.9 percent to 82.7 million pounds from 87.9 million pounds last year.
Operating profit was 50.8 million pounds, down 25.7 percent form 68.4 million pounds in the prior year.
Profit from continuing operations dropped to 26.4 million pounds or 36.5p per share from 48.1 million pounds or 67.3p per share a year ago.
Net profit, including loss from discontinued operations was 6.2 million pounds or 8.6p per share, down from 41.9 million pounds or 58.5p per share last year.
Adjusted earnings per share was 86.5p compared with 98.4p a year ago.
Revenue from continuing operations, however, increased 9.9 percent to 647.3 million pounds from 588.9 million pounds in the previous year. Like-for-like sales grew 2.9 percent in the year compared to 7.3 percent last year.
The Board has recommended a final dividend of 8.0p per share, up from 7.5p per share last year, to be paid on November 29 to shareholders on the register on November 1.
Looking ahead, the company said it is comfortable with consensus estimates for fiscal 2025.
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