A comprehensive and reassuring Y/E trading update from CVS this morning. Whilst we make no meaningful forecast changes, having upgraded our EPS forecasts by 6-7% four weeks ago, investors should welcome the H2 momentum across LFL sales, underlying gross margins and employment costs. Commentary around previously underperforming areas is also positive. Management remains sanguine about future growth prospects and the strength of today’s update signals that the business is firmly moving in the righ ....
26 Jul 2019
Plenty of positives in the Y/E update
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Plenty of positives in the Y/E update
CVS Group plc (CVSG:LON) | 930 -111.6 (-1.3%) | Mkt Cap: 667.0m
- Published:
26 Jul 2019 -
Author:
Sahill Shan -
Pages:
3
A comprehensive and reassuring Y/E trading update from CVS this morning. Whilst we make no meaningful forecast changes, having upgraded our EPS forecasts by 6-7% four weeks ago, investors should welcome the H2 momentum across LFL sales, underlying gross margins and employment costs. Commentary around previously underperforming areas is also positive. Management remains sanguine about future growth prospects and the strength of today’s update signals that the business is firmly moving in the righ ....