Richard William Fairman
CEO & Director
Welcome to this presentation of CVS Group’s full year financial results for the year ended 30th of June 2025. And I’m Richard Fairman, CEO. And later, you will also hear from Robin Alfonso, our Chief Financial Officer; and Paul Higgs, our Chief Veterinary Officer.
I’m delighted to report on another successful year of growth across our group with improved U.K. operations and continued expansion of our platform in Australia. We have successfully navigated some significant challenges over the past 12 months, and the strong market fundamentals remain attractive. We entered the new financial year with a strengthened company, which is well positioned for further success.
Revenue increased by 5.4% to GBP 673.2 million, following a start to the year that was impacted by softer market conditions in the U.K. with like-for-like sales growth of minus 1.1% for the first 6 months. It was pleasing to see a significant improvement in the final quarter, leading to positive full year like-for-like growth and improved trading, which continued into the first 2 months of the new financial year. Adjusted EBITDA increased by 9.4% to GBP 134.6 million from both acquisitions and disciplined cost management and adjusted EBITDA margin increased by 70 basis points to 20%.
The sale of our crematoria business in May 2025 was at an attractive 10x EBITDA multiple and the capital generated from the divestment provides additional firepower for continued selective organic investment in the U.K. and expansion in Australia at multiples that are value accretive to the group. The crematoria business has been treated as a discontinued operation and has therefore
