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  4. Driver Grp Share Regulatory News
  5. Trading Update & Notice of Preliminary Results

Pin to quick picksDriver Grp Regulatory News (DRV)

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Share Price Information for Driver Grp (DRV)

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Share Price: 22.00
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Trading Update & Notice of Preliminary Results

21 Sep 2017 07:00

RNS Number : 3576R
Driver Group plc
21 September 2017
 

 

21st September 2017

DRIVER GROUP PLC

("Driver" or "the Group")

 

Trading update and notice of preliminary results

 

Driver Group, the global professional services consultancy to construction and engineering industries provides an update on trading performance during the second half of the financial year ending 30 September 2017.

The Board is pleased to report that the Group has continued to benefit from careful management of overheads and improved utilisation rates during the second half of the financial year and, as a result, that it now expects to report underlying *PBT ahead of its previous expectations.

The performance of the business in the UK has been particularly strong, as it has been this year in the UAE and in Qatar. The Singapore office has enjoyed a sizeable increase in activity levels, whilst action has been taken to improve the future prospects of both Hong Kong and Australia. These factors, together with the strategic initiatives underway, including the disposal of the South African subsidiary already accomplished and announced, are expected to see a strong close to the year as a whole and the Group better placed for the future.

Control of working capital continues to be a key area of focus, as does monetising the Group's legacy debtor book and good progress has continued in the collection of aged debt in the Middle East, where, in Oman for instance, debt which stood at £4.6m at the end of March currently stands at £3.1m. Net debt for the group at the financial year end is expected to be in the region of £1m.

The Board expects to report preliminary results for the year ending 30 September 2017 on or around 12 December.

 *Underlying figures are stated before share-based payment costs, amortisation of intangible assets and exceptional items. 

Enquiries:

Driver Group plc

Gordon Wilkinson (CEO) 07964-518095  gordon.wilkinson@driver-group.com

Hugh Cawley (CFO) 07971-469975   hugh.cawley@driver-group.com

 

N+1 Singer - Nominated Adviser

Sandy Fraser 0207-4963000 sandy.fraser@n1singer.com

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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Date   Source Headline
11th Dec 20187:00 amRNSPreliminary Results
5th Dec 20184:25 pmRNSHolding(s) in Company
13th Nov 20187:00 amRNSNotice of Results and Analyst Briefing
6th Nov 20184:56 pmRNSPDMR Dealing
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5th Jun 20187:00 amRNSInterim Report
16th May 20187:00 amRNSNotice of Results
23rd Apr 20187:00 amRNSSale and leaseback of Haslingden office premises
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12th Mar 20182:42 pmRNSHolding(s) in Company
1st Mar 20184:51 pmRNSResult of AGM
27th Feb 20189:01 amRNSHolding(s) in Company
23rd Feb 20187:02 amRNSDirectors' Share Options
23rd Feb 20187:00 amRNSTrading update
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15th Dec 20173:31 pmRNSHolding(s) in Company
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10th Nov 20173:54 pmRNSHolding(s) in Company
27th Oct 20177:00 amRNSBoard changes and business disposal
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10th Jul 20175:28 pmRNSHolding(s) in Company
5th Jul 20176:26 pmRNSPDMR Dealing
13th Jun 20177:00 amRNSExercise of Options & Total Voting Rights
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25th May 201710:53 amRNSHolding(s) in Company
24th May 20177:00 amRNSPDMR Dealing
23rd May 20177:00 amRNSInterim Report
12th May 20177:00 amRNSDisposal
7th Apr 20171:04 pmRNSResult of AGM
7th Apr 20177:00 amRNSTrading Update Statement
17th Mar 20173:18 pmRNSHolding(s) in Company
17th Mar 201710:49 amRNSHolding(s) in Company
15th Mar 201712:07 pmRNSHolding(s) in Company
14th Mar 20174:55 pmRNSHolding(s) in Company
14th Mar 201712:10 pmRNSHolding(s) in Company
13th Mar 20172:33 pmRNSHolding(s) in Company
9th Mar 20173:44 pmRNSResults of GM/Open Offer, TVR and annual accounts
21st Feb 20177:00 amRNSDirectors Dealing
21st Feb 20177:00 amRNSPosting of Circular and Notice of General Meeting
17th Feb 20175:06 pmRNSProposed Placing and Open Offer - further details
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