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Pin to quick picksDriver Grp Share News (DRV)

Share Price Information for Driver Grp (DRV)

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Share Price: 25.00
Bid: 23.00
Ask: 27.00
Change: 0.00 (0.00%)
Spread: 4.00 (17.391%)
Open: 25.00
High: 25.00
Low: 25.00
Prev. Close: 25.00
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Driver Group flags £9m operating loss for current year

Wed, 14th Sep 2016 10:37

(ShareCast News) - Global professional services consultancy in the construction and engineering industries, Driver Group, updated the market on its trading performance during the second half of the financial year to 30 September on Wednesday.The AIM-traded company confirmed that, as expected, it returned to profit during the second half with turnover in the period expected to be roughly 7% ahead of the figures at the interim stage."Considerable progress has been made in reducing the cost base across the group, driving efficiencies and improving job profitability and the detailed review of the group's operations which commenced following Gordon Wilkinson's appointment as CEO in March is ongoing," the board said in a statement.It said revenue and operating profit in the Europe & Americas regions are above expectations and at record levels for the period, whilst revenues in AMEA are broadly in line with expectations and again at record levels."Despite this significant improvement in operating performance, operating profits in the AMEA region have been well behind internal forecasts and, after a further review of the group's debtor book, the board has determined to increase the provision against outstanding debts in the AMEA region by a further £520,000."Based on the latest management information and including the impact of the increased debtor provision, the board now expects that the group will record a modest operating loss before exceptional items for the financial year as a whole."Driver said net debt at the financial year end is expected to be in the region of £9.0m, in line with market forecasts and comfortably within the group's available facilities.It added that further steps are still required to bolster and improve sustainable profitability, but the board remained confident
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1 Mar 2011 08:03

Driver Group trading in line

Shares in construction industry consultancy Driver rose over 5% after it said trading in the first half has been in line with company expectations. "Our European and Africa regions are performing well whereas the live construction market in the Middle East is particularly challenging in Abu Dhabi a

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26 Jan 2011 17:24

Ashley House directors build stakes

Directors bought stakes in Ashley House following the care home builder's interim results yesterday. Six directors took stakes in the company, with the biggest coming from chairman William Wells, deputy chairman Stephen Minion, chief executive Jonathan Holmes and finance director Antony Waters. The

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19 Jan 2011 07:17

Driver scraps divi

Driver Group posted a 20% slump in revenue for the year and dumped its dividend payment as it grapples with a struggling UK construction market. The Rossendale-based consultancy group, which provides specialist commercial and dispute resolution services to the construction industry, reported an und

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25 Oct 2010 17:04

London close: Miners keep Footsie in the blue

Were it not for the strength of miners today Footsie would undoubtedly have ended in the red, as many share prices experienced a late swoon. Miners were wanted on expectations that the US dollar will suffer a relapse after the G20 agreement over the week-end that should, if adhered to, bring an end

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25 Oct 2010 14:28

London afternoon: Miners retain most of their gains

London has lost some of its gains in the early afternoon but it is showing signs of a renewed upturn. Miners remain the best performers on expectations that the US dollar will suffer a relapse after the G20 agreement over the week-end that should, if adhered to, bring an end to so-called currency w

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25 Oct 2010 12:05

London midday: Banks miss out

Having got off to a flying start London spent the mid-morning period slowly relinquishing its gains before regaining impetus just before midday. Miners continue to lead the advance on expectations that the US dollar will suffer a relapse after the G20 agreement over the week-end that should, if adh

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25 Oct 2010 07:44

Driver trading broadly in line

Construction industry consultancy Driver said it is trading broadly in line with company expectations despite an increasingly challenging UK construction market. Driver predicts a small underlying loss in the second half and expects to close the period with a net debt of £0.5m, less than the marke

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8 Jul 2010 13:05

Driver Group Names Damien McDonald As Finance Director

LONDON (Dow Jones)--Driver Group PLC (DRV.LN), which provides a range of consultancy services to the construction and engineering industries, said Thursday Damien McDonald has been appointed as finance director for the group, effective Aug. 1. MAIN FACTS: -Damien joined Driver in April 2008

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22 Jun 2010 10:03

Driver cautious after interim loss

Driver Group said it expects conditions to remain challenging after the economic downturn pushed the provider of specialist commercial and dispute resolution services to the construction industry into losses in the six months to March 31. Pre-tax losses totalled £447,000 for the half year, against

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22 Jun 2010 07:49

Driver Group 1H Pretax Loss GBP0.4M On Revenue GBP8.8M

LONDON (Dow Jones)--Driver Group PLC (DRV.LN) said Tuesday that for the six months ended March 31, it made a pretax loss of GBP0.4 million on revenue of GBP8.8 million. MAIN FACTS: -Revenue of GBP8.8 million (2009: GBP11.3 million) -Operating loss GBP0.3 million (2009: GBP1.3 million)

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25 Sep 2009 09:43

Sector movers: Construction stocks driven lower

Driver Group is leading the constructions and materials sector lower after the provider of dispute resolution services to the construction industry said trading in the second half has been 'very challenging.' In the UK, Driver was particularly disappointed with the north, where an expected upturn d

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25 Sep 2009 08:43

Small caps round-up: Petards, Gemstones, Norman Hay...

Security and surveillance systems firm Petards saw profits drop for the half year but said the outlook for the second half is stronger with full year profits seen in line with expectations. Profit before tax was £242,000 against £305,000 in the same period last year on revenue that slumped to £6.6m

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24 Aug 2009 11:22

Small caps round-up: CBG, Driver, Development Securities...

Aim-listed insurance broker CBG said it has responded positively and quickly to the current economic slowdown. "The recent period has seen earnings decline in many lines of business and, as a result, we have put in place a significant cost reduction programme which has been focused on the reorgani

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25 Jun 2009 17:01

London close: Late rally not enough

A late rally by UK equities was not enough to prevent the blue-chip index closing in negative territory, largely as a result of weak miners, which were weighted down by softer metals prices. Lonmin, Vedanta, Rio Tinto and BHP Billiton were all stuck in the red. Elsewhere in the sector, Anglo Americ

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25 Jun 2009 14:27

London afternoon: Banks and miners retreat

Leading equities drift lower in the afternoon session, led by banks and miners. Asia-focused bank Standard Chartered eases back, despite enjoying record income and operating profit in the first five months of this year. Some of this success has been offset by weakness in consumer banking, however,

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