While full year profit guidance has been held broadly in line with consensus (adjusted for lost Vet JV fees) at £80-85m the decisions on restructuring the Vet Practice business mean a fundamental re-balancing of the investment characteristics here, with online pressure on pet food pricing set to continues but without as much offset from growth of the Vet business. This is clearly an unfavourable combination but one which is already reflected to some extent in the de-rating of the shares
27 Nov 2018
Vet practice reorganisation
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Vet practice reorganisation
Pets At Home Group Plc (PETS:LON) | 270 -4.3 (-0.6%) | Mkt Cap: 1,263m
- Published:
27 Nov 2018 -
Author:
Tony Shiret -
Pages:
3
While full year profit guidance has been held broadly in line with consensus (adjusted for lost Vet JV fees) at £80-85m the decisions on restructuring the Vet Practice business mean a fundamental re-balancing of the investment characteristics here, with online pressure on pet food pricing set to continues but without as much offset from growth of the Vet business. This is clearly an unfavourable combination but one which is already reflected to some extent in the de-rating of the shares