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Plimsoll has published the results of a study into the profitability of UK veterinary practices which has revealed a widening gap between firms making outstanding profits and those losing money.
The Plimsoll Analysis found average profit margins have fallen to 6.4% of sales and 151 of the UK's top 500 practices are now running at a loss. However, the same study has revealed 61 businesses are making record profits.
Of the 61 'rich' companies:
Of the 151 'poor' companies:
David Pattison, senior analyst at Plimsoll, said: "Sometimes the public perception of profit is wrong. It's seen as companies taking advantage of their position or exploiting their commercial advantages unfairly. But these successful companies should be proud of their achievements. In an industry not known for its successes, these businesses should act as benchmarks to the rest of the industry showing what can be achieved."
Mr. Pattison added: "The latest Plimsoll Analysis highlights that the industry is being split into two types of company and the gap between the rich and the poor is getting bigger and bigger.
"For the companies that are falling behind, they need to re-evaluate their strategy and retain profit in order to improve their financial strength."
The Plimsoll Analysis provides an individual profile of each of the UK's top practices. It offers an overall financial rating, a valuation and an acquisition attractiveness assessment on each company. VetSurgeon.org members can have a £50 discount off this report by calling 01642 626419 and quoting reference PR/AA54.
For more information, contact Chris Glancey on 01642 626 419, or email c.glancey@plimsoll.co.uk