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Share Name Share Symbol Market Type Share ISIN Share Description
Cvs Group Plc LSE:CVSG London Ordinary Share GB00B2863827 ORD 0.2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  20.00 0.87% 2,320.00 2,310.00 2,315.00 2,345.00 2,270.00 2,345.00 321,905 16:35:27
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Retailers 427.8 9.9 8.1 286.4 1,641

Cvs Share Discussion Threads

Showing 626 to 646 of 675 messages
Chat Pages: 27  26  25  24  23  22  21  20  19  18  17  16  Older
Massive u turn. Bad sign.
Generally true in a lot of cases Diku.
You know when Private Equity guys bring company to market...the juice has been sucked out...and PI's generally hung up high and dry...
I’m sticking with cvsg
FT Lombard today: IPO for vet services group IVC is likely to test the market’s animal spirits Lockdown Britain has a puppy shortage and a surfeit of stock market dogs. Veterinary services company IVC Evidensia, a beneficiary of the former, has all the makings of the latter. Private Equity group EQT and Nestle, IVC’s current owners, are planning a London listing for early next year. They see a business worth up to £12bn at the enterprise value level, at least according to excitable bankers who have attached themselves to the plan. Investor might ask what exactly has changed since IVC’s funding round in February last year, which set the headline enterprise value at just £3bn. The answer appears obvious. Homeworking has given time-poor commuters the opportunity of pet ownership. Google Trends data picked up a doubling of UK searches for “vets near me” in the five months after the March lockdown as new owners looked to vaccinate and neuter their new companion. Pets being for life, the trend is likely to withstand recession. Like-for-like sales at CVS, the UK listed vet owner, hardly budged throughout the downturn of 2007 to 2011. Its shares have surged more than six-fold from March lows on expectations of a repeat performance. CVS and its private equity-backed rivals take advantage of industry economics that favour buying over building. They buy up independent practices with long customer lists then use scale to squeeze down costs. When the time comes to sell, consolidators such as the US behemoth Mars Petcare have been rapacious customers. The playbook has limits, however, mandatory services such as 24-hour locums are a cap on cost cutting potential so earnings can flatline soon after acquisition. Analysis from RBC Capital Markets found the between 2009 and 2017 CVS bought £26.1m of ebitda by taking over 255 practices, yet group ebitda rose by just £29.7m. While not much is known yet about IVC’s finances, a Fitch report from August hints as a roll-up vehicle that is running out of road. The debt rating agency expects sales to grow just 5 per cent by 2024 and records negative fee cash flow for 2019 as net debt ballooned to 9 time ebitda, likely choking the bid pipeline. Perhaps lockdown has transformed these numbers but if that is the case, why would the sellers be selling? London needs to shake its reputation for overhyped floats, particularly those that give private equity a timely exit. If an IVC arrives anywhere close to its mooted valuation, investors are being served another dog’s dinner.
It has been a topsy turvy day. CVSG has been relatively stable.....So maybe these are sold to chase the Covid shares that might gain.
Spoke too soon.Today, it looks as if a vaccine for Covid-19 means people will take their pets to the vet less than they have been , or something.
Nice break-out after yesterday's mid-morning large purchase.
Volume stimulated by news. share price has been relatively stable since the July update and sept results. Good time to be adding regularly.
Volume seems to be drying up. Can sometimes be the predecessor to a big surge which moves the price (hopefully upwards).
Lots to like with an excellent update on the first two months. Anecdotally the vets are very busy, they are operating safely and profitably. IMHO this is looking like a much stronger business. I expect there will be a number of small practices that will want to sell up and CVSG will be paying less to acquire them. One to believe in again.
Outlook Through the actions taken during the COVID-19 pandemic, and the support and professionalism of our colleagues, CVS is well positioned to withstand any future Brexit or COVID-19 disruption and deliver future growth. We saw a continuing strong recovery from the close of the last financial year, which was faster than expected to reach pre COVID-19 levels. Trading for the first two months of this year are ahead of budget and up 3.5% on the prior year, with LFL sales similarly up 3.9%. Adjusted EBITDA was also comfortably ahead of that seen in the prior year (+6.4%). This primarily reflects continued clinical care and increased referrals. Cash generation remained strong in the first two months and leverage further reduced to 0.8x creating a further buffer against business disruption and the ability to invest in future growth. I look forward to delivering our new strategy and sharing further success in the future. Richard Fairman Chief Executive Officer 24 September 2020
Dividends Having taken advantage of government support during the COVID-19 pandemic, and in line with the approach taken by many other companies, the Board does not intend to recommend the payment of a final dividend. Shareholder engagement Prior to COVID-19, the Directors regularly held one-to-one meetings and calls with shareholders. Although the Directors temporarily suspended issuing guidance due to COVID-19, we continue our regular interactions with shareholders. Outlook CVS operates in a sector with favourable market and consumer trends, with pet owners who remain willing to spend money on their pets and medical enhancements increasing the range of services we can offer. COVID-19 severely impacted our business in the last quarter of this financial year, reducing our revenues. CVS was eligible for, and successfully accessed, the Coronavirus Job Retention Scheme and placed over half of all employees on furlough. CVS also accessed support from taxation authorities in the UK and the Netherlands. I am pleased to say that post year-end, all of our employees have now returned from furlough leave. As described more fully in the CEO's statement, trading in the first two months has been encouraging. Despite continued uncertainty over Brexit, I am confident that CVS is well positioned to avoid significant adverse impacts from the UK's decision to exit the EU. Pharmaceutical manufacturers and wholesalers are increasing their stock levels in order to reduce the risk of supply shortages and, following the acquisition of Vet Direct in 2018, CVS now controls more directly its equipment and consumables supplies. Looking ahead, we welcome the positive environment for acquisitions and are well placed to take advantage of growth opportunities. The pace of growth in the UK economy may be impacted by Brexit and COVID-19 uncertainty, but the veterinary sector has proven to be resilient in past periods of economic downturn and the Board believes that CVS is well-positioned to withstand any potential future downturn. Richard Connell Chairman 24 September 2020
What a difference a new management team can make, with greater focus on the business rather than a manic acquisition strategy. One of Investor's Champion's favourites reflected in the latest update
Solid set of results, given the impact of COVID, encouraging start to the new financial year bodes well.
Https:// (Investors Chronicle) Britain’s largest veterinary-services company operates more than 500 practices. Levels of pet ownership have risen steadily over the last ten years and “rocketed” under lockdown. The number of insured pets has risen too, which will “help to protect CVS’s income in an economic downturn”. The reopening of its small-animal sites has boosted sales. The forward price/earnings ratio of 23 does not fully reflect the company’s potential. 1,205p
Final dividend Having taken advantage of government support, and in line with the approach taken by many other companies, the Board does not intend to recommend the payment of a final dividend. Outlook: post COVID-19 lockdown Since April 2020 CVS have, where possible, reopened practices and un-furloughed employees. We are pleased that by the financial year end the majority of our practices were open and the majority of employees have returned to work. The Board is confident that the actions taken have been in the best interest of both our employees and our clients and have not had a detrimental impact on the number of active clients that the Group services. Alongside the re-opening of our practices, we have taken the decision to permanently close 33 sites in the Group, the majority of which are small branches of larger practice groups which were either marginal or loss-making. The Board is confident that the majority of clients formerly served by these sites will continue to be served by our larger and better equipped CVS veterinary sites close by. CVS is a diversified business with strong coverage in the UK and an established platform in the Republic of Ireland and the Netherlands. The Group provides an essential service to companion animals and supports the maintenance of the food supply chain. We continue to maintain 415,000 Healthy Pet Club subscription memberships which provide recurring revenue and which continue to be a resilient source of cashflow. Animed Direct, our online pharmacy and retail business, has performed well throughout the financial year and has benefitted from an increase in demand during the lockdown period. Leverage has materially reduced from the 1.61x reported at the end of February 2020 due to the actions taken by the Board to both protect the business and preserve cash (30 June 2019: 2.08x). The Company continues to refrain from giving guidance to analysts. Whilst there is ongoing COVID-19 uncertainty with the potential risk of further future lockdowns, the Board is confident that the business is robustly managed and well positioned to drive further increases in shareholder value.
Peel Hunt Buy 1,130.00 - Reiterates
Upcoming events on CVS GROUP PLC JULY/24/2020 FY 2020 Sales and Revenue Release - Trading Update
Strong resistence it seems at 1019p Https://
Read more in our update of announcements here: Https://
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