Driver Share Discussion Threads

[stegrego] 25/2/2015 09:28

Disappointing update but doesn't warrant a 35 per cent drop in what was already a fairly low rating.

[rp19] 09/12/2014 20:53

Pleased with the results too and that the second half weighting was met (I see they are forecasting a similar weighting for '15). Always difficult with options, balance of incentivising management vs best interests of shareholders. They do seem generous but I guess if they meet the targets (more likely given seeming focus on bolt on acquisitions) then the share price will look after itself and I'll be happy. Not sure if that justifies it though! Not a chartist but does look like a bit of a base of a bowl forming on the longer term chart, which will hopefully see a return to the 120+ level. No advice intended dyor etc.

[ed 123] 09/12/2014 11:17

Agree on both counts, Billy_Liar.

With about 30 million shares issued, the maximum 1.55 million share options granted would equate to about 5% of the equity. Far too generous imo.

Underlying eps reported at 11.2p. These options start to vest if underlying eps reaches 20p by 30 September 2017 and the maximum vests if underlying eps reaches 30p.

If they reach that 30p, then the share price may have gone from around 100p to around 300p in three years. Of course I would be very happy if that performance came to pass, but they should go for it without the 'bribe' of options, imv.

[billy_liar] 09/12/2014 09:08

Good figures this morning, but I'm not a fan of generous options packages - shouldn't the Board be doing their best for shareholders with their already inflated salaries?

[rp19] 27/11/2014 21:50

Yes, at the half year the Middle East revenue was £6.5m and profit £1.5m. Half year report does cite some previous delays in payment from Oman but it sounds as if this was because contracts were extended beyond their initial finish date which appeared to cause some admin/paperwork issues.

[harry the haddock] 27/11/2014 16:28

that's interesting marky - if the margin is the same we're talking nearly £500k profit p.a. (and the profit last year was c.£2.5 million in total??)suddenly it becomes far more significant

[marky55] 27/11/2014 16:03

Perhaps helpful to look at profits.In H1, Middle East generated the lion's share of Group profits, £1.5m (23% margin) out of a total of £2.2m. UK margin was 10%, other divisions made small losses.So any additions to Middle East revenues probably of greater benefit.

[harry the haddock] 27/11/2014 14:12

about 7% of turnover. nice contract but not quite that significant

[superstardj] 27/11/2014 13:54

In the context of a business that turned over £37m last year, that's a big contract.

[rp19] 27/11/2014 08:54

Project management contract award in Oman for the Ministry of Transport and Communications:

"Driver Group, the global consultancy to the construction and engineering industries, is pleased to announce the award of a Project Management Contract by the Sultanate of Oman, Ministry of Transport and Communications.

Under the terms of the contract, Driver Consult (Oman) LLC will provide consultancy services for the management of the Batinah Expressway. The Batinah Expressway is 272 kilometres long with 247.5 kilometres of link roads connecting the project to nearby towns. It is the westward continuation of the Muscat Expressway which extends from the end of Muscat Expressway towards Khatmat Milahah near the UAE border. The contract duration is three years with a total value of OMR 4.72m (£7.8m) and the project management team will consist of up to 26 consultants.

Dave Webster, CEO of Driver, stated "I am delighted that we have been able to secure this prestigious award by the Sultanate of Oman - Ministry of Transport and Communications. We have worked on many projects with the Ministry who are a valued and key customer of ours. This is the largest project we have undertaken with them to-date and our staff are honored with the trust placed in them. This award further strengthens our credentials in the project management of large infrastructure schemes."

[buffetteer] 07/10/2014 11:53

pe of 12.2 going to 9.4 -cheap by any stretch with an Roce of 19% last year .
These are the stocks we will make money on -solid,growing ,high return and totally ignored !
Onward & upwards

[rp19] 07/10/2014 11:43

In line is good (as long as management expectations equate to market expectations). Not a fan of mid-day RNS releases though, don't see why the above could not have been issued at 7am today/tomorrow.

[orange1] 07/10/2014 11:38

In line update released:

[rp19] 06/10/2014 19:39

I would agree that an "in line" update would be a result as they'd left themselves a fair bit to do in the second half.

[effy123] 06/10/2014 10:30

We should be due a pre close period full year update some time this week, probably Wednesday.

Hopefully the "second half weighted" numbers will prove to be correct. I would imagine that an "in line" statement will go down well with the market and could hopefully lead to some further upside.

[rp19] 18/9/2014 08:09

Encouraging project services contract win:

Driver Group, the global consultancy to the construction and engineering industries, is pleased to announce the award of a Project Control Services Contract by SABIC UK Petrochemicals Limited.

SABIC, headquartered in Riyadh (Saudi Arabia), is one of the world's top 6 petrochemical companies and is the largest non-oil company in the Middle East.

In Europe, SABIC is a major producer of plastics, chemicals and innovative plastics and employs nearly 6,000 people. The main European office for its strategic business units, Polymers and Chemicals, is based in Sittard (The Netherlands). SABIC have Manufacturing and Research facilities in several locations in the Netherlands, Germany, UK, Italy, Austria, Belgium and Spain.

SABIC UK has announced a Major Project to convert its Teesside plants to take US shale gas, in a "very significant" investment that will make it one of the most competitive plants of its kind in Europe; this will create many hundreds of construction jobs and safeguard thousands more on Teesside.

Driver Project Services has been awarded the Contract for the provision of Project Controls Services and to support SABIC in the delivery of this prestigious project. Key to this award is to support SABIC in delivery of the Projects Critical Success Factors; in particular Schedule Assurance and Cost Assurance.

Dave Webster, CEO of Driver, stated "I am delighted that we have been able to secure this prestigious award in terms of both the project itself and more so because our Project Services business has gained the trust of a world class business in SABIC on what is a very significant investment by them. This award marks a significant step in our plans to substantially grow this area of our business in both the UK and our overseas territories".

[billy_liar] 05/9/2014 20:27

Must be getting a tip in a rag somewhere soon!

[rp19] 05/9/2014 19:55

Nice rise (low volume) after a flat period.

[tudes100] 08/8/2014 09:23

Positive news, lets hope it can help to reverse recent share price movement

[el1te] 08/8/2014 08:13

Interesting framework agreement signed with Kier today. Sounds as if it should materially add to revenues, thus earnings, over the coming years. Slightly concerning that there was no trading update beforehand as there was last year - potentially linked to the strong sterling performance. May sell out before the scheduled update in October as that is also when options exercise deadlines are

El1te

[el1te] 11/7/2014 12:20

Several extremely large trades processed today - looks to be institutional shifting

El1te

[rp19] 23/6/2014 07:37

I was a little surprised too of the disconnect between the article headline and the body of the text.

[el1te] 22/6/2014 21:57

An interesting article, aside from the lack of connection between what's going on in Iraq and Driver's Middle Eastern operations.

If there is anything that will subdue future potential, it would be the Qatar world cup being revoked and re-bid for. In the middle East, Driver's main operations are in secure regions such as Oman, UAE and to a lesser extent (as above) Qatar.

Hard to see any real correlation, and I'm sure the market would have marked the shares down had there been a real link. A little lazy in that respect.

Thanks for posting nonetheless RP
El1te

[rp19] 22/6/2014 20:56

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