CVS Group PLC (LON:CVSG) has bounced back from a profit warning a year ago sparked by a shortage of vets, which pushed up staffing costs.
The AIM-listed pet care firm expects underlying earnings (EBITDA) this year to be “materially ahead” of the previous year helped by easier comparatives.
In the six months to 31 December, like-for-like sales rose 8% while total sales were up 15% over the half-year.
Gross margins dipped by 0.2% to 76% due to higher revenue from the low-margin online dispensary segment though employment costs as a percentage of sales eased slightly to 51%.
Net debt narrowed 5% to £97mln.