CVS has evidenced another strong trading period, with H1 PBT up 29% and good cash generation supporting leverage 40bps lower at 1.7x. Jan-Feb trading was robust with 6% LFL growth. Until recently there had been limited Covid-19 impact but RCVS/BVA guidance that vet practices should only remain open for urgent/emergency cases and travel restrictions is beginning to impact non-urgent visits. To protect the P&L and conserve cash, it is reassuring to see management taking decisive action &nda
27 Mar 2020
Strong H1 and actively managing Covid-19 risk
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Strong H1 and actively managing Covid-19 risk
CVS Group plc (CVSG:LON) | 954 104.9 1.2% | Mkt Cap: 684.2m
- Published:
27 Mar 2020 -
Author:
Sahill Shan -
Pages:
3
CVS has evidenced another strong trading period, with H1 PBT up 29% and good cash generation supporting leverage 40bps lower at 1.7x. Jan-Feb trading was robust with 6% LFL growth. Until recently there had been limited Covid-19 impact but RCVS/BVA guidance that vet practices should only remain open for urgent/emergency cases and travel restrictions is beginning to impact non-urgent visits. To protect the P&L and conserve cash, it is reassuring to see management taking decisive action &nda