DRV.L Share Price (DRV)

Mark Wheeler, CEO and Charlotte Parsons, CFO of Driver Group held an online Investor Presentation covering highlights of Interim Results for the six months to end March 2024.

Management provided operational, financial and regional updates, including the Middle East and APAC returning to profitability, good progress on the Group's transformation strategy, the opportunity for M&A, and increasing Diales’ expert headcount. The team discussed the share buyback programme and answered a range of questions submitted by viewers.

The full video has been divided into chapters, as below:

0:00:03 Introduction

0:00:49 Service Offerings

0:03:59 Operational Highlights

0:06:54 Financial and Regional Updates

0:09:34 Cash flow Bridge

0:11:10 Outlook, Summary and strategic update

0:15:12 Questions & Answers

Link to video: https://www.equitydevelopment.co.uk/research/driver-group-investor-presentation-12-june-2024-interim-results

The strategic plan implemented in late CY22 is working, with utilisation levels benefitting from the move to a hub-and-spoke operational model and a return to profitability in the smaller Middle East and APAC regions.

H2 24 has started positively, particularly in Asia, as the relatively new office in Seoul is delivering on its early promise. The order pipeline continues to expand, benefitting from the rise in expert headcount. The Board has set aside £1m of ‘excess cash’ to buy back shares and to evaluate M&A in existing and related sectors.

We maintain our fair value of 40p/share. With a sector-leading yield, currently standing at 6.0% for FY24, compared to the average of its peer group of 0.5%, Driver’s share price remains undervalued relative to a basket of its peers and is heavily backed by cash and the NAV.

Link to research report: https://www.equitydevelopment.co.uk/research/interim-results-good-start-to-q3-pipeline-growing

Driver Group PLC (AIM: DRV), the leading global professional services consultancy to the construction and engineering industries, providing multi-disciplinary consultancy services including expert witness, claims and dispute resolution services, will be conducting a presentation covering its Interim Results for the six months ended 31 March 2024.

The online event will be hosted by Mark Wheeler, CEO and Charlotte Parsons, CFO and will take place at 12.00pm on Wednesday 12th June.

Questions can be submitted during the presentation to be addressed at the end.

The presentation is open to all existing and potential shareholders - you can sign up to register here: https://www.equitydevelopment.co.uk/news-and-events/drivergroup-investor-presentation-12june2024

Yeah right you'll be in at 20

Tp 15p----