Shareholders were rightly losing patience with veterinary services business CVS Group (LON: CVSG) in January following a series of disappointing trading updates. The dynamics of the UK veterinary market have changed significantly over past few years and a shortage of newly qualified vets, combined with the rapid consolidation of the sector, was making life hard for CVS, the UK’s largest consolidator. The group was also ploughing on with its manic acquisition spree, moving into The Netherlands and diversifying into farm and equine practices. Unfortunately, the new acquisitions came at a high price and weren’t performing as hoped. These factors and a rising…
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