Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on CVS GROUP PLC. We currently have 37 research reports from 1 professional analysts.
|15Mar17 13:39||RNS||Exercise of Options & TVR - Replacement|
|14Mar17 17:29||RNS||Exercise of Options & TVR|
|13Mar17 16:07||RNS||Holding(s) in Company|
|10Mar17 14:11||RNS||Holding(s) in Company|
|08Mar17 15:31||RNS||Holding(s) in Company|
|03Mar17 14:37||RNS||Holding(s) in Company|
|28Feb17 10:30||RNS||Purchase of Shares by Employee Benefit Trust|
Frequency of research reports
Research reports on
CVS GROUP PLC
CVS GROUP PLC
N+1 Singer - Morning Song 02-03-2017
02 Mar 17
First Derivatives (FDP LN) Major new contract win | IndigoVision Group (IND LN) Strong H2 performance | Nichols (NICL LN) Strength & tenor of FY16 results supportive of premium rating | Sanderson Group (SND LN) AGM statement signals solid start to the year | Spirent Communications (SPT LN) Narrowing focus around key themes
N+1 Singer - All creatures great and small - An overview of the animal health sector
02 Mar 17
Animal Health is a vast market with multiple long-term growth characteristics and opportunities. In this report we have outlined valuations, M&A activity and the key growth drivers in two animal health subsectors: companion animal health and livestock health. Although the commercial positioning of the eight companies covered in this report (Animalcare, Anpario, Benchmark Holdings, CVS Group, Dechra, ECO Animal Health, Genus and Pets at Home) differ significantly, all have exposure to positive market trends.
N+1 Singer - CVS Group - Fundraising to support ongoing growth
14 Dec 16
CVS has successfully raised £30.2m in an over-subscribed placing with new and existing investors at 1000p. This will help ease pressure on the balance sheet and provide the group with greater firepower to invest for further growth. We estimate re-leveraging the BS back up towards 2x in the next 30 months would augment FY18 EPS by 14%/20% in FY18/FY19. Ultimately, CVS has the platform to be a >£1bn capitalised company in the mid-term and we remain positive. We see ST fair value at 1170p.
N+1 Singer - CVS Group - Proposed placing
13 Dec 16
CVS has announced an intention to conduct a placing to raise at least £30m via an accelerated bookbuild. We feel this is a sensible move to support the strong growth momentum without significantly increasing gearing levels. We put our forecasts under review and will publish updated numbers once the final outcome of the placing is confirmed.
N+1 Singer - Morning Song 13-12-2016
13 Dec 16
ALLIANCE PHARMA (APH LN) Positive CMD provided a detailed insight | CARPETRIGHT (CPR LN) Stock at 20 year low but transformation plan well on track | CVS GROUP PLC (CVSG LN) Proposed placing | MICROSAIC SYSTEMS PLC (MSYS LN) Trading update | NCC GROUP (NCC LN) Confirmation of weak H1’17 | UBM PLC (UBM LN) Acquisition – zig when the others zag | ZYTRONIC (ZYT LN) Strong underlying profit growth; Forecast upgrades
N+1 Singer - CVS Group - Strong AGM prompts double-digit upgrades
24 Nov 16
CVS has issued a strong AGM statement which further justifies its premium rating. For the first 4 months to October it has traded “ahead of the Board’s expectations”, registering an impressive 6.3% LFL showing. It has also been busy consolidating and established a foothold in the Dutch market. We push through 10% EPS upgrades for each of the next 3 years and see further upside risk. The strength of the update shows CVS continues to have strong momentum and we argue for fair value towards 1100p.
N+1 Singer - Morning Song 21-03-2017
21 Mar 17
accesso Technology (ACSO LN) Full year results in line, but key trading months still ahead | Augean (AUG LN) Double digit growth in ’16, good start to ‘17 | Earthport (EPO LN) Interims show continued top line strength | Goals Soccer Centres (GOAL LN) Good momentum under new team. It’s now all about delivery | IQE (IQE LN) FY’16 results prompt further upgrades | Microsaic Systems (MSYS LN) Challenges in 2016, strategy remains in place | mporium Group (MPM LN) Funds raised to help execute strategy | RhythmOne (RTHM LN) Dawn of the independents | ScS Group (SCS LN) Strong progress on key growth initiatives albeit comps now toughen | Sinclair Pharma (SPH LN) FY results: EBITDA ahead, Instalift™ gaining pace | Vectura Group (VEC LN) FY (9-month) results
N+1 Singer - ScS Group - Strong progress on key growth initiatives albeit comps now toughen
21 Mar 17
Whilst interim results are complicated by timing differences around order deliveries (flattery of c£1.9m) and rephasing of marketing (drag of c£1.9m), adjusted EBITDA improved by c£1.7m on an underlying basis – moving ScS into positive territory in its historically loss-making first half. Good progress was made on all 4 growth strategies and it maintained its 5-star score on Trustpilot. Whilst LFL order intake is down c5-6% in current trading, this reflects weak retail park footfall in Feb (not a conversion issue) and it has seen an improvement since the start of March. This means it is on track to meet FY expectations. Reassuring dynamics on margins & costs may add to investor relief, with the shares on <2x EV/EBITDA.
Strong set of full-year results, comforting guidance
23 Mar 17
GVC released a solid set of full-year results. Key highlights Pro forma Net Gaming Revenue (NGR) was up 12% at constant currency, or 9% on a reported basis at €895m, in line with the February trading update. Pro forma clean EBITDA was up 26%, at €205.7m, bang in line with AV’s €206m forecasts, translating a three percentage points increase in margin added to the growth in revenue. c.69% of NGR was derived from markets either regulated (including those in the process of regulating) and/or locally taxed (68% in 2015), while 95% of the revenues were derived from GVC’s proprietary platform. Net debt stood at €131.5m or 0.6x clean EBITDA. The board proposed a second special dividend of €0.15, giving a total dividend of €0.30 per share for the year, beating market expectations. Guidance The start of 2017 seems promising as management said that daily NGR had increased by 15% (+16% cc), translating into an 18% (+19% cc) growth in sports labels’ daily NGR and a 6% (+8% cc) increase in games labels’ daily NGR. The gross win margin reached 9.5% while it should move towards the 10% mark on the long term. Regarding dividends, the group confirmed a progressive distribution policy and expects to distribute at least 50% of the group’s free cash flow, starting from 2017. Debt refinancing In the first quarter of 2017, the group issued a €320m Senior Secured Term and Revolving Facility, composed of a €250m term loan (maturity 6 years) and a €70m revolving credit facility (maturity 5 years) used to pay down the Nomura Loan in full.
N+1 Singer - Goals Soccer Centres - Good momentum under new team. It’s now all about delivery
21 Mar 17
2016 finals have come in marginally below consensus PBT forecasts but this should not detract from positive operational and strategic momentum. There is still much work to do, but the tenor of the results is encouraging and management signals a good start to FY17. The main surprise is news of a third USA site opening. We tweak our FY17/18 PBT forecast up by 2% and stay at Buy on recovery grounds with a 140p 12m TP.