I'm doubtful of a dividend cut whilst they are growing revenues...

I'm doubtful of a dividend cut whilst they are growing revenues and bottom line (even with a small downturn in standalone vets). I think the business is still strong fundamentally and have clearly identified some shortcoming needing to be investigated/improved in their business model. I expect a bounce at some point and SP to hang around 3.5 until confirmation of their measures being successful and/or improvements in vet business. I likely won't top up until after FY or potentially even further once they can prove new measures are successful. Happy to hold until then and may add some if the downtrend continues and risk/reward is higher.