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CVS reaps longer-term rewards of last year s lockdown pet boom
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Vets issues stark warning to every dog owner who walks pet in woodland
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Vets issue an urgent warning to every dog owner who walks pooch in woodland
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Vets issues urgent warning to dog owners who walk their pet in woodlands
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It has been a wild ride since this column first assessed CVS four years ago but the veterinary services group has come good, as its shares have galloped to a fresh record high.
However, a pleasing capital gain of almost 70pc means the shares now trade on more than 50 times consensus earnings forecasts for the current year.
Even allowing for the strength of the business model, the health of the balance sheet and the long-term prospects of the pet care market, such a rating feels lofty and as a result it may be time to book a gain and move on, albeit reluctantly.