Cvs Share Discussion Threads

[misca2] 08/8/2020 16:33

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.

[grupo] 02/7/2020 10:48

Peel Hunt Buy 1,130.00 - Reiterates

[misca2] 06/6/2020 11:22

Upcoming events on CVS GROUP PLC


JULY/24/2020 FY 2020 Sales and Revenue Release - Trading Update

[misca2] 06/6/2020 11:21

Strong resistence it seems at 1019p

[florenceorbis] 30/3/2020 11:32

Read more in our update of announcements here:

[waldron] 07/2/2020 14:31

Berenberg Buy UP FROM 1,200.00 TO 1,400.00 Reiterates

[florenceorbis] 07/2/2020 09:24

RNS Number : 2678C

CVS Group plc

07 February 2020

7 February 2020

CVS Group plc

("CVS" or the "Company" and, together with its subsidiaries, the "Group")

Trading Update

CVS, one of the UK's leading providers of integrated veterinary services, provides the following update on headline trading in respect of the financial half year ended 31 December 2019 ("H1 2020"). The Company will announce its interim results, for the six months ended 31 December 2019, on 27 March 2020.

Overview

The Board is pleased to announce that the improved trading performance delivered in the second half of the financial year to 30 June 2019, and the encouraging start to the new financial year, as announced at the time of our Annual General Meeting on 28 November 2019, has continued for the remainder of the half year to 31 December 2019.

H1 2020 Performance

In H1 2020, the Group's total sales increased by 15.0% and like-for-like sales(1) ("LFL") increased by 8.4%, in each case compared to the financial half year ended 31 December 2018 (H1 2019).

Within the Group's core Practice division, total sales increased by 13.7% and Practices LFL(2) sales increased by 7.4%, in each case compared to H1 2019.

Gross margins(3) for the Group in H1 2020 were 76.0% compared to 76.2% in H1 2019. This slight reduction primarily results from strong sales growth for Animed Direct, our online dispensary, for which margins are lower and which accounted for 6.3% of Group sales in H1 2020 (H1 2019: 5.3%). Practice division gross margins improved to 78.3% in H1 2020 from 77.8% in H1 2019. Within the Practice division, the growth in total and LFL sales and the improvement in gross margin largely reflect the continuing focus on high quality clinical work, including increased volume and value of referrals within the Group, and the benefit of modest price increases previously described in our November 2019 update.

Employment costs for the Group in H1 2020 were 51.0% of total sales, compared to 51.6% in H1 2019. This reduction stems from a continued focus on the retention of clinical staff and the Group is pleased to announce that its veterinary surgeon vacancy rate averaged 7.8% in H1 2020 (H1 2019: 8.7%).

As a result of the above, CVS expects to report H1 2020 Adjusted EBITDA(4) that is materially above that delivered in H1 2019. This is in line with management expectations and is attributed to the better performance in H1 2020 as well as the weaker comparative in H1 2019.

Outlook

As previously stated, the comparatives become more challenging in the second half of the current financial year, given the improved performance seen in H2 2019. The continuing positive trends in key performance indicators provide further assurance that the Group is trading in line with management's expectations for the full year.

[florenceorbis] 07/2/2020 09:23

Giulia Bottaro

08:04 Fri 07 Feb 2020
viewCVS Group
CVS Group on the mend as vet shortage eases

The vet group has recovered since last year's profit warning due to a shortage of vets
CVS Group - CVS Group continues to improve trading

CVS Group PLC (LON:CVSG) has bounced back from a profit warning a year ago sparked by a shortage of vets, which pushed up staffing costs.

The AIM-listed pet care firm expects underlying earnings (EBITDA) this year to be “materially ahead” of the previous year helped by easier comparatives.

In the six months to 31 December, like-for-like sales rose 8% while total sales were up 15% over the half-year.

Gross margins dipped by 0.2% to 76% due to higher revenue from the low-margin online dispensary segment though employment costs as a percentage of sales eased slightly to 51%.

Net debt narrowed 5% to £97mln.

Add related topics to MyProactive

[j0sekl] 05/1/2020 23:26

I believe the thesis. Although I don't see this as completely bulletproof, I like the steps management have taken. Long-term looks fine, near term depends. Brexit didn't help, but if homebuilders are on their way up I don't see why vet services shouldn't participate in the market as well.

[arja] 19/12/2019 12:57

lovely looking chart but I must check fundamentals to see if it appears to be overbought ! anyone any thought on that please ?

[ariane] 05/12/2019 07:44

CVS Group PLC CVSG Peel Hunt Buy 1,150.00 - Reiterates

[magnum opus] 28/11/2019 08:46

A big reason why Innes sold one third of his shares would be taxation. As an employee of CVS his shares are treated as a business for CGT and taxed at 10% on gains. After he has left CVS in the next few weeks he would be taxed like everyone else at 40%.

[gibbs1] 20/11/2019 08:15

11/21/2019 Ex-dividend day for final dividend

11/29/2019 Annual General Meeting

[j0sekl] 20/11/2019 07:57

If there's an issue why doesn't he sell all of his shares? It's hard to tell, maybe he was able to tax off-set this year or he had reason for other commitments. Plus what's his history? Has he always sold suspiciously ahead of negative releases?

Don't get distracted from the market positioning and business model. That said, it's had a very good run recently but I don't see major drama.

[gilessaint] 11/11/2019 23:01

The chickens came home to roost! See my earlier comments on questionable share dealing and top executive sackings! Once again he snaffles share option sell downs and further millions two weeks ago on way out the door!

[kemorkid] 07/11/2019 10:57

Wonder why Inness left so quickly??

[misca2] 04/11/2019 07:29

CVS Group PLC CVSG Peel Hunt Buy 1,050.00 - Reiterates

[waldron] 13/10/2019 21:33

NOVEMBER 21/2019 Ex-dividend day for final dividend

[waldron] 13/10/2019 21:30

Business Summary
CVS Group plc is a holding company. The principal activities of the Company are to operate animal veterinary practices, veterinary diagnostic businesses, pet crematoria and an online pharmacy and retail business. Its segments are Veterinary Practice, Laboratories, Pet Crematoria and Animed Direct. The Veterinary Practice segment offers treatment for companion animals, equine and farm animals. The Laboratories segment provides diagnostic services to its veterinary practices and third-parties. Its laboratories provide Biochemistry, hematology, histology, serology and advanced allergy testing. The Pet Crematoria segment offers pet cremation services to its veterinary practices, third-party practices and directly to pet owners. The Animed Direct segment sells prescription and non-prescription drugs, pet food and other animal related products through its Website. It operates approximately 360 veterinary practices, four diagnostic laboratories, seven pet crematoria and an online dispensary.

Number of employees : 6 150 people.

[waldron] 13/10/2019 21:14

cheers joseki