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Leading International Investment Research, Edison Investment Research

Equity Bottom-Up

<p>Fevara, the livestock supplement specialist, reported positive results with good margin expansion and profit improvement, benefiting from management’s restructuring actions. In terms of growth, the recent Brazilian acquisition provides a bridgehead in a major new market for cattle supplements. Add in the upside from the ‘profitable growth’ programmes in the UK and North America and the re-focused group appears well-positioned to generate continued positive profit progression.</p>

Fevara, the livestock supplement specialist, reported positive results with good margin expansion and profit improvement, benefiting from management’s restructuring actions. In terms of growth, the recent Brazilian acquisition provides a bridgehead in a major new market for cattle supplements. Add in the upside from the ‘profitable growth’ programmes in the UK and North America and the re-focused group appears well-positioned to generate continued positive profit progression.

Carr's Group PLC

Fevara — Strategy bearing fruit