Cookie use on MRCVSonline
We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive all cookies.
If you would like to forward this story on to a friend, simply fill in the form below and click send.

Your friend's email:
Your email:
Your name:
Send Cancel

CVS Group reports ‘disappointing’ financial results
The CVS Group said that its employment costs were 'well above' those seen in 2018.
Employment costs ‘well above’ those seen in 2018

The CVS group has warned that it expects the first half of its 2019 trading year ‘to be materially below current market expectations.’

In a trading update, the group said that its division into Dutch farm and equine practices had been ‘disappointing’, with financial results falling short of their expectations.

The group reports that while sales for the practice division of the group increased by 23.7 per cent, total sales were 76.2 per cent compared to 79.5 per cent in 2018.

It attributes the fall to an increased mix of farm business for which margins are lower.

CVS also reports that while it continues to see a gradual improvement for clinical vacancy rates, it remains heavily reliant on on locum cover. As such, the Group's employment costs were ‘well above’ those seen in 2018.  

“In light of the above and certain other cost increases, the Group expects to announce EBITDA for H1 2019 that is broadly flat compared to H1 2018,” CVS reports. “Given the financial performance in H1 2019, CVS now expects full year EBITA to be materially below current market expectations.

“A number of cost savings have been identified across the Group and these are expected to generate savings both in H2 2019 and in the remainder of the calendar year 2019, with ongoing effect thereafter.” 

Become a member or log in to add this story to your CPD history

Public urged to provide homes for swifts

News Story 1
 The RSPB is calling on the public to help provide new homes for swifts, as figures show the birds' numbers have fallen to less than half what they were 20 years ago.

Swifts arrive in the UK late April-May and can spend up to three months in the country. The RSPB attributes the birds’ decline to modern buildings, which lack the nooks and crannies they need to build nests.

While some house builders have agreed to integrate swift homes into new buildings, the RSPB believes more can be done to help this incredible bird. 'Just, 1,000 additional new nest boxes could make a difference’, the charity said.  

Click here for more...
News Shorts
Detection time for omeprazole reduced to 48 hours in racehorses

The British Horseracing Authority (BHA) has announced that the detection time for omeprazole has been reduced from 72 hours to 48 hours. This is effective from 1 February 2019.

Omeprazole can be prescribed for the management of gastric ulcers in racehorses; however, studies have recently become available that show no direct effect of omeprazole on performance.

Tim Morris, the Authority’s Director of Equine Science and Welfare, commented: “Medication control in horse racing is essential to allow treatment for good welfare but also to ensure fair racing by medication withdrawal before racing. Trainers have asked for more information, especially on anti-ulcer medications, and we have used existing information to make a harmonised detection time for omeprazole available as soon as we could.”