Undervalued?11 May 2017 11:19
Ouch, taking a pounding today with no clear rationale. I've topped up a little, costing 170. Shame my previous buy in was at over 200, thinking we'd see a quick rebound to 220-230. Hopefully the reduced weighted average will help in the future!
I'm unsure why we've seen such a dip. The January trading update showed some amazing growth in services, with intention to expand this revenue stream. Core sales were steady, and dividend growth was strong. There will be cost pressures due to EUR/USD, but I think there's an element of inelastic demand with pets. IMO this is a bargain at current prices (168p)