StockMarketWire.com - Preventative healthcare programme provider Premier Veterinary said it expected to post a narrower first-half loss amid a rise in revenue.

Operating losses for the six months through March 2020 amounted to £0.84m, compared to losses of £1.39m on-year, the company said in a trading update.

Revenue rose 5.2% to £2.0m, amid a 22% increase in the number of revenue generating pets on active plans to 336,000.

Premier Veterinary said its home delivery offering, launched in 2018, had enabled the continued supply of important medicines to pet owners during the Covid-19 crisis.

The company said the the crisis may result in slower growth and increased cancellations by pet owners.

Still, revenue during the month of April had risen 1.8% compare to February, being the last full month prior to the UK lockdown, and the number of pets on plan increased slightly during this period.

Premier Veterinary, also referred to as PVG, said it had furloughed a small number of employees, while the rest had agreed to a salary cut from April to June.

'The Covid-19 pandemic has created uncertainties which make it more difficult for many businesses including PVG to forecast with any degree of certainty,' the company said.

'However the directors of PVG believe that the nature of PVG's business and its continued willingness to invest in its technology platform and people even in these difficult times will lead to continued albeit slower growth and that PVG has sufficient working capital for the foreseeable future.'


At 8:01am: [LON:PVG] Premier Veterinary Group PLC share price was +0.5p at 34p



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