Greencross reaches half of Aussie pet-owning families
This week Money asks independent equities research firm kalkine.com.au for their hot stock pick - a veterinary services company, Greencross Limited.
Greencross Limited (ASX:GXL) has more than doubled the number of stores and clinics in its network since 2012 to 329 outlets in 2014.
This is an increase of 33% compared to 2013.
The group has developed its network to reach 59% of pet-owning families in Australia and New Zealand through acquisitions and new stores.
The company acquired over 42 City Farmers stores and integrated them into its network and bought 18 vet clinics which are estimated to post around $31 million of revenue a year.
The firm has over 130 clinics and is seeking to increase its three co-vet clinics to five by year end.
GXL raised around $3 million for its charitable activities and used these funds to save animals, bringing the total number of animal lives saved to around 20,000.