Veterinary services company CVS (CVSG) seems to be reaping the benefit from its turnaround programme after bad weather in the first half barely dented its operational performance. The popularity of its membership scheme for pets helped the company record like-for-like sales growth of 3.4 per cent for the year so far.
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The impact of the loyalty schemes is such that they now contribute over 9 per cent to CVS' overall sales. Meanwhile, the lower margin Animed Direct, which supplies medicines and treatments over the internet, also showed good progress, with revenues doubling to £6.7m compared with this time last year. There were also four more acquisitions of vet practices during the half.
