Rampant inflation has forced households to cut back their spending and investors to contemplate turning to companies that sell essentials. CVS Group, the veterinary services company, falls into that category. People love their pets, treat them as part of the family, keep welcoming more of them into their homes and will pay whatever is required to make sure they’re OK. You can’t get much more defensive than that.
CVS is opening up its chequebook to capitalise on our love of animals. As part of a five-year plan to deliver annual organic revenue growth of 4 per cent to 8 per cent and an adjusted margin of 19 per cent to 23 per cent, it aims to invest annually anywhere between £30 million and £50
