Driver Grp Share News (DRV)

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 market expectation of £1.2m.Driver said it has repositioned itself in light of the particularly challenging UK market conditions for FY 2011 and beyond. "The Directors are pleased to report that this repositioning is now substantially in place," it said.Looking ahead the group said, "Whilst the UK construction market remains more challenging than we had hoped, Driver has been appointed a member of the Commercial Consultants Panel for Carillion and is in final negotiations for a further similar appointment with another significant UK organisation."Meanwhile in the Middle East Driver has been appointed by Muscat Municipality in Oman as Cost Consultant on the Al Athaibah Interchange Improvements Project, a £22m highway scheme planned to run until May 2012. Driver said the International business also has a strong pipeline of secured work, with levels for the year to 2011 already similar to those achieved in the current year.