CVS Group Sees FY 2021 Adjusted Earnings Ahead of Market Views

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By Adria Calatayud

CVS Group PLC said Tuesday that it expects fiscal 2021 adjusted earnings to be ahead of recently-upgraded market forecasts thanks to strong revenue growth.

The U.K. veterinary-services company said like-for-like sales growth for the year ended June 30 was 17.4% and accelerated in the final quarter of the year as expected.

The company said its adjusted earnings before interest, taxes, depreciation and amortization margin for the year to June 30 is expected to be higher than the 18.4% it reported for the first half of the year.

Analysts expect CVS to report full-year adjusted Ebitda of 93.8 million pounds ($128.3 million), according to a consensus based on estimates by six analysts provided by FactSet.

CVS said it is well placed to pursue targeted acquisitions.

Shares at 0744 GMT were up 3.1% at 2,335 pence.

Write to Adria Calatayud at adria.calatayud@dowjones.com