Driver Group PLC - Lancashire-based professional services consultancy firm - For financial year ended September 30, posts pretax profit of GBP1.7 million, plunging 49% from GBP3.3 million the year prior. This is as revenue falls 9.2% to GBP53.1 million from GBP58.5 million. States the Covid-19 pandemic caused significant market disruption globally which caused a reduction in activity, adding the economic uncertainty has resulted in delays in claims and disputes proceedings.
Declares final dividend of 0.75 pence, maintained from year prior.
Looking ahead, Chief Executive Mark Wheeler says: "Activity levels in the early weeks of the new financial year are encouraging and with a strong net cash position and the availability of increased debt facilities, we believe that the group is well positioned for the coming year."
Current stock price: 53.10
Year-to-date change: down 27%
By Ife Taiwo; ifetaiwo@alliancenews.com
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Driver Grp (DRV)