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CVS Group plc – Interim report for the six months ended 31 December 2018

29th March 2019

Financial highlights

 

  Six months ended 31 December 2018 (Unaudited) Six months ended 31 December 2017 (Unaudited)  

Change4       %

 

 
Revenue (£m) 195.1 157.8 23.7
   
Adjusted EBITDA (£m) 1 23.8 24.0 (0.8)
Adjusted profit before income tax (£m) 2 17.4

 

 

 

18.3

 

 

 

(4.9)
Adjusted basic earnings per share (pence) 3 19.7 22.9 (14.0)
   
Operating profit (£m) 3.4 8.1 (58.0)
Profit before income tax (£m) 1.6 6.2 (74.2)
Basic earnings per share (pence) 1.2 7.8 (84.6)
     
   

 

  • Sales growth of 23.7%
  • Like-for-like sales increase of 4.0%
  • Adjusted EBITDA down at £23.8m (0.8%)
  • Adjusted EPS down to 19.7p (14.0%)
  • Net debt as at 31 December 2018 of £116.8m (30 June 2018: £69.0m)
  • 23 practice surgeries acquired during the period

 

1 Adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) is profit before income tax, net finance expense, depreciation, amortisation, costs relating to business combinations and exceptional items.

 2 Adjusted profit before income tax is calculated as profit on ordinary activities before amortisation, taxation, costs relating to business combinations and exceptional items.

3 Adjusted earnings per share is calculated as adjusted profit before income tax less applicable taxation divided by the weighted average number of ordinary shares in issue during the period.

4 Percentage increases and decreases have been calculated throughout this document based on the underlying values.