Davy Morning Equity Briefing

May 26, 2026

CVS Group

Announcement of share buyback

CVS has announced that it is commencing a share buyback of up to £50m (6% of its market cap). This is positive. There has been further progress on acquisitions in Australia, and CVS has also refinanced its banking facilities on improved terms. It will provide an investor presentation on capital allocation on July 23rd.