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  3. Driver Grp Share Price
  4. Driver Grp Share News
  5. Driver Group slides as Middle East exerts drag on revenues

Pin to quick picksDriver Grp Share News (DRV)

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Share Price Information for Driver Grp (DRV)

London Stock Exchange
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Share Price: 25.50
Bid: 24.00
Ask: 27.00
Change: 0.00 (0.00%)
Spread: 3.00 (12.50%)
Open: 25.50
High: 25.50
Low: 25.50
Prev. Close: 25.50
DRV Live PriceLast checked at -

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Driver Group slides as Middle East exerts drag on revenues

Tue, 04th Jun 2019 09:09

(Sharecast News) - Driver Group's shares slid on Tuesday after the company reported a dip in interim profits on the back of declining profitability in the Middle East and Asia-Pacific regions.The engineering services outfit reported a profit before tax of £1.0m for the six months ended 31 March, a 42% drop compared to the same period last year, as revenue came in 6% lower at £29.7m.Middle Eastern revenues dropped by 14% to £10.3m as a number of significant commissions reached completion in Kuwait, while Asia-Pacific revenues fell by 17% to £4.5m following delays in new commissions from Singapore.This more than offset the 4% revenue growth seen in the Europe & Americas region as the Driver Trett UK business continued its strong performance from the prior financial year and mainland Europe enjoyed revenue growth from £0.7m to £3.6m, resulting in an increase in profits from £0.1m to £0.5m.The AIM traded company's cash and cash equivalents stood at £7.4m at the end of the period, up from £5.8m at the same point 12 months earlier, and its interim dividend was upgraded from nil to 0.5p per share.Steve Norris, chairman of Driver, said: "Although the first half of 2019 has seen lower activity than expected in some markets we have reacted quickly to re-align the cost base of underperforming businesses in the first half and with enquiry rates at high levels the group is well placed to record good progress for the remainder of the current financial year."A statement from Driver added that, with enquiry rates at high levels, the group is well placed to record good progress for the remainder of the current financial year, though fourth quarter activity levels will be "critical" to the outcome for the year as a whole.The company continues to expect a full-year underlying profit before taxation broadly in line with the guidance set out in its March trading update, which in turn was slightly below the 2017/18 result at approximately £3.5m.Driver Group's shares were down 16.51% at 50.51p at 0824 BST.
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11 Mar 2019 09:17

Driver Group Expects Annual Profit To Decline On Project Delays

LONDON (Alliance News) - Driver Group PLC on Monday said its trading in the first half of its financial year 2019 has been behind expectations due to project delays.The stock was trading on

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11 Mar 2019 09:11

Driver shares crash as client conversion stalls

(Sharecast News) - Professional services consultant Driver Group continued to make "good progress" towards its strategic objectives but a reduced pace of client conversion has left it with lower profits.

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11 Dec 2018 11:42

Driver Group Reports Growth In All Regions, Re-Starts Dividend Payout

LONDON (Alliance News) - Driver Group PLC more than doubled its annual profit, the engineering services company said Tuesday, as it returned to paying a dividend.For the financial year 30,

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4 Dec 2018 15:57

UK Earnings, Trading Statements Calendar - Next 7 Days

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16 Oct 2018 11:32

Driver Group ends year ahead of expectations

(Sharecast News) - Construction and engineering professional services consultancy Driver Group updated the market on its trading performance during the second half of the financial year ending 30 September on Tuesday, reporting that it had continued to perform well during the second half and, as a result, it expected to report underlying profit before tax for the financial year "comfortably ahead" of current market expectations at about £3.8m.

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16 Oct 2018 09:43

Driver Group Expects Full-Year Profit Ahead Of Market Expectations

LONDON (Alliance News) - Construction and engineering-focused services consultancy Driver Group PLC said on Tuesday it expects to report profit for its recently ended financial year ahead of for a

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29 May 2018 16:03

UK Earnings, Trading Statements Calendar - Next 7 Days

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23 Apr 2018 12:25

Driver Group Enters Sale & Leaseback Deal For Lancashire Office

LONDON (Alliance News) - Driver Group PLC said Monday it has entered a sale and leaseback deal with Jetglobal Ltd related to its central administration offices in Lancashire.Driver - a and

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17 Feb 2017 09:02

Driver Group swings to a loss, aims to raise £8m from share placing

(ShareCast News) - Driver Group's revenue for the 2016 financial year revenue increased but the company swung to a loss as it implemented a recovery plan. Meanwhile, the construction company is also aiming to raise £81m through an accelerated bookbuild in order to "normalise the capital structure of

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3 Oct 2016 11:07

DIRECTOR DEALINGS: Driver Group CEO Buys 400,000 Shares

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14 Sep 2016 10:37

Driver Group flags £9m operating loss for current year

(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 re

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15 Aug 2016 17:10

Driver Group appoints new CFO

(ShareCast News) - Driver Group has appointed Charles Laurence Cawley as its new group finance director. Cawley will join as CFO of the professional services consultancy to construction and engineering industries group from 22 August. He succeeds Damien McDonald, who will remain in the business u

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8 Jul 2016 08:14

DIRECTOR DEALINGS: Driver Group Former CEO Increases Holding

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31 May 2016 11:44

DIRECTOR DEALINGS: Driver Group Non-Executive Buys Shares

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24 May 2016 10:01

Driver Group Scraps Interim Dividend As Loss Widens

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