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CVS surges on sales recovery
Shares in veterinary services provider CVS (CVSG:AIM) rebounded by 23% to £12.68 after reporting (18 Jan) a recovery in like-for-like sales growth in November and December. This was a relief to investors who’d been stung by a disappointing trading update on 30 November 2017 which triggered a major share price sell-off. Since the start of its financial year on 1 July 2017, industry consolidator CVS has spent around £28m on a total of 29 acquisitions of 30 surgeries, bringing the total number of surgeries to 453. Chief executive Simon Innes says the pipeline of acquisitions in the UK and the Netherlands remains strong.