Vets firm CVS confident that all its Brexit bases are covered

Veterinary firm CVS on Friday sought to allay concerns about a no-deal Brexit hitting medical supplies for pets, and said it is ready for October 31.

Chairman Richard Connell said: “Plans are in place to manage any short-term Brexit impacts and the board is confident that the business is well-placed to avoid significant adverse impacts from the UK’s decision to exit the EU.”

CVS said pharmaceutical manufacturers have stockpiled products. A number of firms have been doing this to be prepared in the event of border delays hurting import times after Brexit.

The AIM-listed owner of more than 500 vet surgeries saw revenues increase 24.2% to £406.5 million in the year to June. Comparable sales were up 5.2%.

CVS cheered an improved second half following a “disappointing” first six months. It said pre-tax profit decreased to £11.7 million from £14.1 million.

The dividend per share was increased by 10% to 5.5p.