Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Not sure what people are expecting from any investigation. Veterinary Services are privately owned and apart from where there may be monopolistic activity the CMA have no right to tell vets what to charge - this is leaving out the obvious reasons why prices have increased as I've mentioned before
Yet a sell off of well over 25% of share price...seems rather mad
Have been picking up small volumes on the way down
It looks like an II is dumping, I will be back in below 1500p rinse and repeat.
If the price stays at this level (would be BERY surprised) then assum that's when they'll buy.
Volumes are very low though- sales are for tiny amounts. Who is selling at these prices - that's just daft. Any lower and I will be buying more. (have a kill order at 1450 just in case it goes that low and I'm not around)
My OH is a vet - I know why their costs are increasing (shortage of vets). They cannot be forced to charge less as they won't be viable businesses - and it's not as if people aren't paying the prices; she consistently works non stop for 10+ hour days. Many practices have closed their books to new clients as demand - a lot down to new fancy breeds with lots of inbuilt problems - bought during Covid - exceeds supply. Vets still paid a fraction of what doctors are paid though - she should have gone down that route...
Be very surprised if they're not loading up at these prices as they'be bought at well over this price. if they don't it'll suggest concern re. CMA. so, roll on BoD buys!
Agreed. No good reason why the shares won't get back to where they were. CMA won't be able to do anything about fees - as that's a result of simple supply and demand (in large part due to Covid and Brexit). They may find that competition is opaque as many apparently different vet pratices are ultimately owned by the same large groups
So am assuming that there might be some Bo buys announced tomorrow or later in the week.
fingers are crossed!
I noted that the price prior/post July28 update was 1806/ 2064. and that number was improving slightly, too, so, at 1600 i'd like to think that CMA will fade by the time results come out and we'll be seeing 2000+ again with a month.
i assume that y'days dip was traders giving up on the fact the sp didn't hit 1800 (which seemed to be the traget traders were looking for). as ever, day traders skip town and their shares get picked up. only small concern/opp is if the sp slipps again on monday to mid 1500s before the turn.
looking for spare cash, just in case.
A gross over-reaction.
CVSG are in 4 countries for starters - this is only relevant to UK.
They'll find out that costs have gone up because of the bleeding obvious - increased number of pets due to Covid (yes, Covid pets are a thing - OH is seeing them, in many cases dogs that WILL prove very expensive over the years, pugs, boxers etc) and Brexit (a large proportion of vets working in the Uk were EU nationals - quite a lot went home)
It's basic supply (down) and demand (up). If OH had not moved to a better paying practice she'd be on £55k - with almost 30 years experience. She works 4 x 10 hour days - often longer, unpaid, plus some weekend work. She'd be paid double as a GP.
She moved jobs, and is paid £10k+ more. Still not great for her qualifications and experience. She sees job adverts - salaries are increasing, but still at only around inflation if lucky
Oh - and meds have increased significantly in price - not much vets can do about that
All CMA will find is that competition is rather opaque in places - prices will not be affected. The underlying fundamentals for these companies will not be affected. They had widespread BUY recommendations before this - a bargain now
Try looking at the wood instead of the trees!
I was replying to buchanan101 not katstrangler - definite problem here with delayed replies. Or posters not reading what's gone before?
Hard pushed to tell why this drop has happeed. can't tell if it's bored traders or a rerate in the wrong direction following the drop y'day.
still holding on as only a week to results and i just can't believe they'll be anything worse than 'as expected' by co. plus there's always the question of how australia is doing.
guess we'll see if this was a play for bigger buys by someone on monday!
good weekend, all.
Not trying to...
Read the article! In Blighty the cat needed to be heavily sedated but not en France! You can't defend £900 whatever the circumstances!
€33? For that job the cat would have to be heavily sedated or more likely anaesthetized - not like you can ask a cat to "open wide". OH saw a case where a dog supposed had had plaque removed - by the groomer - and virtually nothing had been done. Maybe £900 is high (but it depends) but €33 is not a job done properly
BTW - Vet fees - only 20% goes too the VET - approx 20% VAT, 20% meds, 20% support staff, 20% facility.
Other half is a vet. There are two reasons why fees are increasing - well 3...
The first two: Covid - lots of new pets, and Brexit - lots of EU vets leaving. My OHs salary has gone up by maybe 25% in 3 years - but only by moving jobs. There is a severe vet shortage, caused by those two reasons. And there's quite a bit of burn out - many graduates (after 5 or 6 years) don't last more than a few years.
Only now is her salary getting to a reasonable level - 3 years ago, aged 50, she was on £53k - which was poor given 6 year degree and 25+ years experience
The other reason is the cost of meds is soaring.
I bought shares after the dip yesterday and will do so again. The most that that will be found is that there's some lack of transparency on who owns what; the rest is supply and demand, caused in large part by this government
Up to a point, katstrangler! But insurance premiums are based on what vets charge. Face facts: vet fees are excessive but what can you do about it? Maybe more competition would help but that prompts the question: why are independent vet practices selling out to CVSG?
That story is a bit like roofers who quote £1000 to replace a tile! there are always going to be stories like that but as it's unregulated (it IS unregulated and i can' t see CMA doing owt (at least not before Sept results... 2024!). surely it'd make sense for CMA to make the point that folk need to have insurance for their pets!
Shocking story about a woman being quoted £900 to have plaque removed from the teeth of her cat.
That alone is flucking unbelievable but she took the cat on holiday to France where the job was done for 33 euro.
And the French vet suggested she take her cat there for any future treatments!
Obviously, vet fees are high but UK vets are also in very short supply. I bought sub-£15 yesterday and I'm happy to hold as CVSG expands worldwide.
Https://petition.parliament.uk/petitions/635145
Remove VAT on veterinary bills and medication.
At the moment people with companion animals have to pay VAT on all veterinary bills despite the treatment being essential.
At 10,000 signatures...
At 10,000 signatures, government will respond to this petition
At 100,000 signatures...
At 100,000 signatures, this petition will be considered for debate in Parliament
Share this petition
Can't help felling (if i didn't suggest it y'day) that the CMA statements about high prices implies that the results later in the month will end up being better than expected. but eve if it's just as per guidance, would say that £20 is a fairly easy level for this to reach from here.
Https://twitter.com/surprised_trade/status/1700059410083557633
sp dropped from 2050p+ on vet review by CMA news - 'The Times understands that the CMA assessed the announcement and deemed it not to be market-moving'....market providing opportunity.
The Times understands that the CMA assessed the announcement and deemed it not to be market-moving, largely because it had not yet made findings or used its formal powers. Yet shares in CVS Group fell by a third in the morning.
The CMA called for pet owners and vet practitioners to write in with their experiences of pricing, how prescriptions are sold, choosing a surgery, and use of out-of-hours services.
The news triggered the share price of CVS Group, the vet network, to drop by more than a third in morning trading...
The company later issued a response to the review, saying: “There continues to be a significant shortage of vets in the UK and employment costs represent the most significant proportion of our cost base. Our pricing reflects this and other inflationary pressures experienced in recent years. “We have a clear strategy to continue to expand our network and to improve clinical care through investment in facilities, equipment, technology and our people.”
Analysts at Jefferies said that “much of the inflation in the cost of vet services is being driven directly by the shortage of vet practitioners and the, justified in our view, inflation in vet salaries.”
RBC analysts said: “CVS generally seeks 5 per cent per annum increases (two increases in 2022 due to inflation), but that it tends to achieve a net 3 per cent rise as some services are more price competitive. This does not seem egregious to us.”
The Times understands that the CMA assessed the announcement and deemed it not to be market-moving, largely because it had not yet made findings or used its formal powers. Yet shares in CVS Group fell by a third in the morning.
https://www.thetimes.co.uk/article/competition-review-leaves-veterinary-group-looking-poorly-bz67tj5nx
Nm
Not all today, obviously!