The Musti Group share has been a pet of investors during the Korona period. The company’s share price had doubled during the year before Tuesday’s collapse.
Pets The share of Musti Group, which sells supplies, has fallen at its wildest rate of almost 15 per cent on the Helsinki Stock Exchange on Tuesday since the company published its earnings review for April – June.
Adjusted operating profit before intangible amortization of Musti Group, which owns the Musti and Mirri store chain, rose to EUR 7.3 million in the spring quarter, compared to EUR 6.4 million in the corresponding period a year ago. Net sales increased by 20 percent to EUR 82.7 million from a year ago.
“The valuation of Musti Group’s share had risen really high, and the result fell slightly short of expectations, even though the growth was good. The high valuation of the share did not stand up to disappointments, ”says an analyst at stock research company Inderes Olli Vilppo.
Black Group the stock has been a pet of investors during the Korona period. The company’s share price had doubled during the year before Tuesday’s price package. The p / e ratio, which measures the value of a share, fluctuates in almost fifty, when the long-term average of the Helsinki Stock Exchange is about fifteen.
The number of Musti Group stores increased from 18 to 308 in April – June. Expenses were rising in Finland and Norway.
“The company’s costs exceeded market expectations, so the market reaction is understandable,” Vilppo says.
Black Group has benefited from the pet parenting trend, which has only been accelerated by the pet boom caused by the corona pandemic.
The company said 16 percent more puppies were registered in Sweden in June than a year earlier. There is no corresponding register in Finland. The number of Musti Group’s regular customers, ie puppy customers, increased by 33 per cent in June from the previous year. The company now has 1.3 million loyal customers.
The company has thus received a significant increase in its customer base from the Korona-era pet boom. Vilppo of Inderes says that the Puppies acquired during the Korona period will continue to consume the company’s products for the entire life of the dog, ie 10–12 years.
“In July, the registration of puppies in Sweden increased by 22 percent, which means that the puppy boom continues to be strong. The pet coron boom is far in time, but there will certainly not be a similar growth spurt. ”