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

Endangered turtles rescued from smugglers

News Story 1
 A group of endangered turtles have found a new home at London Zoo after being rescued from smugglers.

The four big-headed turtles arrived at the zoo at the end of last year, after smugglers tried to illegally import them to Canada, labelled as toys.

One of the turtles, named Lady Triệu after a Vietnamese warrioress, has moved to a new exhibit in the zoo’s reptile house. She is the only one of her kind in a UK zoo.

Big-headed turtles have such large heads that they cannot pull them back into their shells. To compensate, they have armour plating from head to tail and a very sharp beak to fend off predators. They are ranked number 18 on ZSL’s EDGE of Existence reptile list, which puts threatened species at the forefront of conservation action. Image © ZSL  

Click here for more...
News Shorts
RCVS Fellowship board chair elections get underway

Voting for the 2019 RCVS Fellowship Chair election is now underway. This year four candidates are standing for election, including Dr Robert Huey, Professor John Innes, Professor Liz Mossop and Professor Ian Ramsey.

The Chair will attend and preside over Fellowship meetings and take the lead in consolidating the Fellowship’s position as the learned society of the RCVS. Fellows will receive an email containing a link to the online voting form, as well as candidates’ details and manifestos. Voting closes at 5pm on Thursday, 5 September.