The company says the like-for-like sales increase was at the upper end of its target of between 4% and 8%, and that it continues to see resilience in the veterinary sector, with membership of its Healthy Pet Club preventative healthcare scheme increasing in the year by 19,000 members (an increase of 4.0%) to 489,000.
CVS says its Board decided to enter the Australian marketplace because of its low levels of corporate consolidation, favourable market dynamics and strong similarities with the UK, including highly trained veterinary surgeons, shared language and culture, and the group's experience with UK vets working between Australia and the UK.
Earlier this month, the group signed agreements for the conditional acquisitions of four independent small animal first opinion veterinary practices in Australia: two in Brisbane, one in Queensland and one in Sydney, for an initial consideration of £16.8M.
Two of the acquisitions have now been completed, and the other two are expected to be completed shortly.
The company says it now plans to acquire more Australian practices in major urban conurbations, including Sydney, Melbourne, Brisbane, Perth, Canberra, Newcastle and Adelaide.
Ben Jacklin, Deputy CEO said: "Having worked as a vet in Australia earlier in my career, I know well their high standards of clinical care, and the dedication of highly talented veterinary professionals that work there.
"As a company dedicated to giving the best possible care to animals, I see a fantastic opportunity for us to enter this growing market, with low levels of corporate consolidation, and execute our vision of being the veterinary company people most want to work for.
"I have spent time in Australia over the last 12 months, including meeting some fantastic veterinary practices, and it is clear we have a significant opportunity.
"With the four outstanding practices that are joining us, and a strong pipeline of further acquisition opportunities, I am excited to build a significant CVS business in Australia with the same culture and values that have brought us success in the UK."
PS: Whilst you're here, take a moment to see our latest job opportunities for vets.