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Research

Musti Group: We are letting the dogs out

By Olli VilppoAnalyst
Musti Group
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Musti continued to take over market share and grow profitably in all operations in Q2. Earnings growth was somewhat below our expectations mainly due to an item that is interpreted as non-recurring. Our earnings estimates remain largely unchanged, but we raised our sales growth estimates slightly based on the new financial targets.

Musti Group offers products and services for pets. The group manages stores focused on dogs, cats and other pets. The business is run through a franchise but also through several other brands. The largest operations are found in the Nordic market, with private customers as the largest customer base. In addition to the main business, training, education and service are offered.

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