Cvs Share Discussion Threads

[lomax99] 31/7/2017 08:35

Reaction overdone, added.

[bulltradept] 31/7/2017 08:26

Perhaps its the net debt figure?

[drobinson1991] 31/7/2017 07:46

Strong trading update this morning with some strong signs of greater profitability going forward.

[spudleywoo] 28/7/2017 15:20

can't find a contact anywhere... very poor. Are they sweeping results under the carpet?

[alphabeta4] 28/7/2017 11:10

Had a look on their website financial calendar and just shows the AGM. Normally the best thing is to contact the financial PR. Does anyone know who this is as it shows as blank on Morningstar?

[spudleywoo] 25/7/2017 19:03

As did I but not heard anything. Can anyone clarify?

[gswredland] 25/7/2017 17:11

I thought we were due one yesterday

[spudleywoo] 25/7/2017 15:16

Are we due an interim result this week?

[alphabeta4] 18/7/2017 19:53

Looks good for at least a trade IMO. Target 1400 with a floor at 1200 for a decent risk:reward. I'm hoping the results on the 24th will trigger buying this week to start the move.

[rob762243] 11/7/2017 17:38

What's been happening these last few days?

[lomax99] 02/6/2017 10:46

Another decent acquisition for CVS:

Article dated 11/5/17

Severn Edge Vets, a large mixed veterinary practice with 12 sites in central and south Shropshire, has been acquired by CVS.

John Brentnall
Severn Edge director John Brentnall will maintain the role of CVS regional director.

The practice was formed six years ago with the merger of two long-standing neighbouring practices and now employs 135 people, including 43 vets.

According to Severn Edge, its Bridgnorth veterinary hospital provides round the clock care for small animals while its other sites across Shropshire – including an equine and farm clinic – mean clinicians can care for a range of production, equine and companion animals.

An ‘impressive217; practice

Director of CVS’ practice division Karyn MacKenzie said: “Severn Edge is an impressive practice with an outstanding leadership team and an ambitious and exciting vision for the future which we share.

“We are delighted to welcome the team to CVS and look forward to working with them to help them build an even more successful future.

Significant investment

Vet and director of Severn Edge John Brentnall will maintain the role of CVS regional director. He said: “It was clear from the outset CVS understood what they were trying to achieve.

“We have embarked on a significant investment programme, including upgrading our surgery at Madeley, outside Telford, and redevelopment of the site of an additional clinic we recently acquired.

“In order to continually upgrade our clinics, provide the widest range of career opportunities for our staff and steer our practice through an increasingly competitive world, we believe the best interests of us all lie in joining forces with CVS.“


hxxps://www.vettimes.co.uk/news/cvs-adds-severn-edge-to-group/

[lomax99] 24/5/2017 08:29

Questor comment:

buy CVS, a fast-expanding business that’s immune from the economic cycle

Finding a company with a strong competitive model that can lead to healthy profits and be scaled up relatively cheaply is the holy grail of investing, especially if the stock is decent value too.

Veterinary services group CVS is the leading player in its field in Britain, generates good earnings and copious cashflow and is busily consolidating its position in its home territory while it starts to build a presence in the Netherlands with carefully chosen and priced acquisitions.

The only cloud is a lofty valuation at around 31 times this year’s earnings and 29 times next. But earnings momentum is strong and those multiples could drop sharply as the company expands.

The business is underpinned by dependable demand for veterinary services, which are generally not too affected by the ups and downs of the economic cycle. On top of that come the acquisitions.

CVS has already added 33 surgeries during the fiscal year that ends in June, including initial forays into both Holland and Northern Ireland, taking the total to 394. More deals, and more new countries, are likely and an equity fund raising just before Christmas of almost £30m, plus the company’s own free cashflow, gives it plenty of firepower.

The company tends to wait for clinics to come up for sale, so it can cherry-pick the best sites and pay a sensible price. Acquired surgeries keep their own name but benefit from the scale and support of the CVS organisation, which takes care of the back office and training and drives better sourcing through bulk buying, to the benefit of profit margins.

[lomax99] 06/4/2017 18:36

One of the main buy tips in IC this week, which reckons earnings could more than double in the next 5 years. No surprise to me.

[lomax99] 31/3/2017 09:22

Welcome back woody! I have also added more recently. Excellent results.

[woodcutter] 31/3/2017 09:06

Bought quite a few this morning in several trades. Foolishly held and sold some years ago, when it reached a consolidation phase, for reasonable gain. Lesson learned, stay with the trend. However i can see this continuing to grow with penetration into Europe going well.

As noted the cash flow is extraordinary and the level of receivables is borne out by this.

Will continue to accumulate now on any weakness despite the quite high per.



woody

[chrisgail] 31/3/2017 08:28

Excellent set of results. Cash flow growing to service debt and fund on going growth. It remains a long-term hold.

[pet lover] 18/2/2017 14:21

Lomax99

Agreed with most of your post but to be fair, Zeus only put that out four months ago and the shares have responded since.

Here at CVS PET HEALTH PLANS are driving the growth so I personally see PVG doing extremely well. They don't have any of their own vets anymore just selling PET HEALTH PLANS for independents on a global platform.

CVS Report and Accounts

The Healthy Pet Club loyalty scheme continued its excellent growth in the year. Over 40,000 pets were added to the scheme increasing membership by over 18.8% and bringing the total membership to 253,000. The scheme provides preventative medicine to our customers' pets as well as a range of discounts and benefits. We gain from improved customer loyalty, the encouragement of clinical compliance, protecting revenue generated from drug sales, and bringing more customers into our surgeries. Monthly subscription revenue generated in the year increased to GBP24.0m (2015: GBP18.8m). At the year end, the monthly run rate represented 12.3% (2015: 13.0%) of practice revenue; however in the like-for-like practices the figure was 16.3% (2015: 13.5%), demonstrating the potential for further subscription revenue within the more recently acquired practices into which Healthy Pet Club is also being introduced.



Like for like 16.3 % and I guess the managements long term target here is for that metric is 25%.

[lomax99] 18/2/2017 13:59

Horses for courses, CVSG's continued growth looks far more assured, PVG could yet crash and burn.

PVG will shoot into the stratosphere when their model has been proven, if it had already been, and everyone actually believed Zeus's £8-£10M PBT in a few years was a dead cert, then PVG would already be up over 1000%!!

It will be really interesting to see Investec's PVG forecasts (Revenues,PBT for the next few years).

[pet lover] 18/2/2017 13:52

My ramblings about PETS have come home to roost.One part of the business is doing well dragged down by low margin shop sales.

CVSG being a far better bet.

[pet lover] 18/2/2017 13:42

The outcome to date.

CVSG has had a very good run of 85%

PVG has done rather more 300%

PETS has done very badly indeed off 15%

[pet lover] 18/2/2017 13:39

Hi this is my post in full from just short of two years ago.


pet lover - 12 Mar 2015 - 18:09:08 - 279 of 358 CVS Group: VETS,All things bright and beautiful - CVSG

This share has had a great run but for me it's just getting to big and with Slater in its now all in the price.
Have no doubt it will still produce year on great results but at a slower rate.
I never liked Pets At Home as not a pure vets as such so one never knows if one part of the company is holding back another. Also dislike the group that sold out in the IPO asking and getting top wack.

I noticed another vet came to the market last week through the back door Reverse take over.
It's traded under the epic code of PVG.
From what one can read it's had all the growing pains of a small outfit trying to grow very fast.
What caught my eye was that it's not just got 15 vets but also built up a vet buying group plus it sells on behalf of other vets a pet health plan. The gross margins in that part of PVG are very high way higher than the vets themselves.

PVG comes in at £8M and has made a loss to date. It also has some loans that charge 12% linked into the big shareholder.thats one thing I do not think much of I have to say. They have just landed a very high flying non ex director and on the same day the shares shot up.PVG put out the RNS and talked of being a global company.

If any of you have time would you be kind enough to run the slide rule over it TA.

[lomax99] 18/2/2017 13:36

Berenburg upped their target to £12.

A general comment on values, a prospective PE of 15 suggests there may be some way to run.....

[...]

PS Couldn't post link - proactive investors have a recent article out postulating that the recent acquisition of VCA by Mars in the US might set a new benchmark at 19x EBITDA. CVSG is currently above that, but falls to 15x, and Investec thinks that growth of at least 5% PA is likely for the foreseeable future.

[bamboo2] 11/1/2017 15:25

Like the chart. Have been watching and waiting for confirmation. Have redrawn the consolidation area trendlines, calculated target for Ascending Triangle, and note apex approx 19 Jan.
Overall chart shape has some similarities to CRPR before the recent jump.
Is there an update due?

[lomax99] 31/12/2016 18:23

eburne, thanks for posting.