Interims as expected are very strong, with 11% sales growth (9.6% LFL) flowing through to 22% at the PBT level. So another period of strong organic led delivery. H2 has got off to a strong start, despite stiff comps and the prospect of share buy-backs is signalled. We see the CMA issue as nothing more than a setback and are satisfied that, armed with new guidance selective M&A will remain part of the mix. We use this note to demonstrate that there are clear building blocks to maintain a >10% TSR ....
24 Mar 2022
Excellent interims; strong H2 start; >10% TSR thesis
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Excellent interims; strong H2 start; >10% TSR thesis
CVS Group plc (CVSG:LON) | 995 -258.7 (-2.6%) | Mkt Cap: 713.5m
- Published:
24 Mar 2022 -
Author:
Sahill Shan -
Pages:
4
Interims as expected are very strong, with 11% sales growth (9.6% LFL) flowing through to 22% at the PBT level. So another period of strong organic led delivery. H2 has got off to a strong start, despite stiff comps and the prospect of share buy-backs is signalled. We see the CMA issue as nothing more than a setback and are satisfied that, armed with new guidance selective M&A will remain part of the mix. We use this note to demonstrate that there are clear building blocks to maintain a >10% TSR ....