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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Cvs Group Plc | CVSG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 1.00 | 0.10% | 976.00 | 16:35:16 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 970.00 | 970.00 | 991.00 | 976.00 | 975.00 |
| Industry Sector |
|---|
| GENERAL RETAILERS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 21/09/2023 | Final | GBP | 0.075 | 02/11/2023 | 03/11/2023 | 08/12/2023 |
| 22/09/2022 | Final | GBP | 0.07 | 17/11/2022 | 18/11/2022 | 02/12/2022 |
| 23/09/2021 | Final | GBP | 0.065 | 18/11/2021 | 19/11/2021 | 03/12/2021 |
| 29/03/2019 | Final | GBP | 0.055 | 21/11/2019 | 22/11/2019 | 06/12/2019 |
| Top Posts |
|---|
Posted at 18/3/2024 13:38 by roddyb I am hoping this will recover but there are very valid concerns as to how these companies price their services and fail to disclose pricing and dissuade pet owners from shopping around. The CMA are going to land some blows just as they did with Dignity Funeral services.Management will be scared to do share buybacks during the CMA investigation and probably scared to pay an increased dividend? They will certainly be delaying purchasing any more UK vet practices. Not looking good for the next 6 months. |
Posted at 16/3/2024 06:37 by lomax99 CVS discount is too high, says LiberumThe discount at which veterinary group CVS (CVSG) trades is 'too high', given the competition watchdog's review into vet practices is likely to prove there is no case to answer, says Liberum.Analyst Seb Jantet retained his 'buy' recommendation and target price of £22 on the stock, which gained 1.4% to £14.92 at the end of last week after its interim results. The shares have shed 21% over the year following the Competitions & Markets Authority (CMA) decision to investigate whether vets were providing consumers with value for money.Jantet said there was not a lot of new information in the result but added that 'we are still waiting for the most important piece of information, being the CMA's initial decision which is still expected in early 2024'.'While the shares have recovered a little over the last few months, they are still trading on undemanding multiples both in absolute terms and in relation to historic ratings, on a current year 2024 embedded value to pre-tax profit multiple of 9.9 times,' he said.'While we accept that the CMA uncertainty warrants a discount over the historic rating of around 15 times, the discount looks too high to us, especially given our view that there is a good chance the CMA will conclude there isn't a case to answer when it next updates.' |
Posted at 12/3/2024 09:23 by undervaluedassets Overdone. This is old news re-issued.Properly cheap now Have watched and admired CVSG for years but the multiple was always too big for me. (pe of 127 and 80 in 2020 and 2021 respectively) On a current pe of 20 and with a pe of 15 pencilled for 2024 this is now a looks a reasonable punt The 16 million pet owners are a huge addressable market which is not disappearing and into which the company can grow. |
Posted at 29/2/2024 08:32 by ariane DividendsA dividend of 7.5p (December 2022: 7.0p) per share was paid in December 2023 in respect of the financial year ended 30 June 2023. The Board will continue to review its dividend policy and anticipates the payment of a final dividend in respect of the current financial year, which will be payable in December 2024. In line with our customary practice, the amount of this dividend will be dependent on the outcome of the full year results and the growth capital needs of the business. Current trading & Outlook We remain confident of delivering sustainable long-term growth and delivery of our strategic goals. We continue to execute on the strategy outlined at our Capital Markets Day in November 2022 and we extended our bank facilities in January 2024 so that we have committed bank facilities through to February 2028. We continue to be mindful of the wider macroeconomic backdrop and the potential impact on demand as well as continued inflationary pressures on margins over the near term. However, the Board remains confident that full year results will be in line with market expectations and the strategy remains appropriate to deliver longer term sustainable growth in value. We will continue our investment in our people, technology and our clinical facilities in order to support further organic growth. This will be augmented by investment in our exciting pipeline of selective acquisitions and development of exceptional Greenfield sites. In H2 2024 to date, we have completed a further small animal practice acquisition in the UK for initial consideration of £5.2m. The Board would like to acknowledge and thank all members of the CVS team for their efforts to provide the very best care for animals, and with their support, we look forward to sharing continued success in the future. Deborah Kemp Interim Chair 29 February 2024 |
Posted at 26/1/2024 11:31 by iamnotanumber6 Berenberg believes CVS can deliver double-digit earnings growthVeterinary services provider CVS Group (CVSG) is on track with its plan to grow, invest and acquire, a story that remains ‘highly attractive’, says Berenberg. Analyst Calum Battersby retained his ‘buy’ recommendation and target price of £23.70 on the stock, which was trading at £16.73 on Thursday. A first-half trading update for the six months to the end of 2023 showed the group’s ‘strong performance’ has continued, Battersby said, with 6% like-for-like revenue growth, stable year-on-year margins and a further 5.4% revenue contribution from acquisitions. Battersby said the company’s growth strategy is ‘clearly working’ as it enjoyed a ‘combination of strong organic growth, investments in practice refurbishments and relocations, acquisitions in the UK and acquisitions in Australia’. Although the market is currently focusing on the next update from the Competition and Markets Authority which is looking into value for money offered by vets, Battersby said the ‘underlying CVS story remains highly attractive’ and said investors ‘can expect double-digit compounding earnings growth for the foreseeable future’. |
Posted at 30/11/2023 16:12 by travis2 Agreed. I have been a long term observer of CVSG. They not only own a large number of Vet practices but the killer blow is that they also own one of the biggest online vet medicine outlets. Hence they profit twice, when selling to the practices as well as to the general public who have paid the vet for their animal's prescription. It's a win win for them. The regulator will make some token changes to make it look like they have done their job, but ultimately this business is solid and profitability will only increase in the long term. |
Posted at 21/9/2023 13:43 by kalai1 CVS Group posted impressive Final Results for the year 30th June this morning. Revenue was up 9.8% to £608.3m, operating profit was up 45.6% to £62.3m, basic EPS was up 62.4% to £58.8m. Adjusted numbers were less stellar but still solid with adjusted EBITDA up 13% to £121.4m, adjusted EPS up 11.9% to 96p. The balance sheet remains solid despite the fact that Leverage increased to 0.73x as a result of the acquisition of Quality Pet Care Ltd. Net debt was up to £74m. Valuation is starting to look quite attractive with forward PE ratio at 15.9x, which is comfortably below the 23.6x trailing 12-month low for the share since FY17. The share price lacks positive momentum following its early September collapse following the Competition and Markets Authority launch of a review into the UK veterinary services market for household pets. CVSG remains a share to monitor for the time being, but company specific factors point to an increasingly attractive investment case......from WealthOracle |
Posted at 21/9/2023 08:03 by ariane CVS Group Reports Higher FY23 Profit, RevenueSeptember 21, 2023 at 02:35 am EDT (MT Newswires) -- CVS Group (CVSG.L) on Thursday reported year-over-year growth in profit and revenue for fiscal 2023. Profit for the year ended June 30 was 41.9 million pounds sterling, compared with 25.7 million pounds a year ago. EPS was 0.585 pound, compared with 0.359 pound. The UK veterinary group's revenue was 608.3 million pounds, compared with 554.2 million pounds previously. Analysts polled by Visible Alpha were expecting 65.4 million pounds in net income or 0.91 pound per share, while revenue was estimated at 605.8 million pounds. Meanwhile, the board proposed a final dividend of 0.075 pound per share for the period, payable on Dec. 8. It paid 0.070 pound per share a year ago. The stock rose nearly 1% in on Wednesday's close. Price (GBP): £1509.00, Change: £+13.00, Percent Change: +0.87% |
Posted at 21/9/2023 07:43 by ariane DividendsIn light of the continued growth of the Group and its positive operating cash generation, the Board is recommending a continuation of our progressive dividend policy, with the payment of a final dividend of 7.5p per Ordinary share (2022: 7.0p). The ex-dividend date is 2 November 2023 and the dividend payment date is 8 December 2023. |
Posted at 07/9/2023 08:36 by 74tom "People may also be unaware if their vet is part of a group which owns other vet practices in their area or that the services which are being sold to them (such as diagnostic tests or treatments at a specialist animal hospital) are provided by that group. This could impact pet owners’ choices and reduce the incentives of local vet practices to compete."I'm not sure what measures the CMA could impose to remedy the situation, however it doesn't surprise me that the listed vet group's are being targeted. From a quick check I can see that CVSG reported a gross margin of 77% last year, in fairness this hasn't changed much over the last 5 years, but the scale of the business has grown. At the end of 2022 they owned 472 of the estimated 5300 UK vet practices & 85.5% of revenue was derived from them. In 2015 they owned 298, so market share has nearly doubled. The main takeaway is that CVSG's future growth runway via acquisitions now looks shrouded in uncertainty & their top line revenues could well come under pressure. Certainly a very aggressive move down though... |
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