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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Driver Group Plc | DRV | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 26.00 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 26.00 |
| Industry Sector |
|---|
| SUPPORT SERVICES |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 12/06/2024 | Interim | GBP | 0.0075 | 19/09/2024 | 20/09/2024 | 25/10/2024 |
| 14/12/2023 | Final | GBP | 0.0075 | 29/02/2024 | 01/03/2024 | 11/04/2024 |
| 13/06/2023 | Interim | GBP | 0.0075 | 21/09/2023 | 22/09/2023 | 27/10/2023 |
| 23/02/2023 | Final | GBP | 0.0075 | 02/03/2023 | 03/03/2023 | 13/04/2023 |
| 14/06/2022 | Interim | GBP | 0.0075 | 22/09/2022 | 23/09/2022 | 27/10/2022 |
| 24/01/2022 | Final | GBP | 0.0075 | 24/02/2022 | 25/02/2022 | 06/04/2022 |
| 08/06/2021 | Interim | GBP | 0.0075 | 23/09/2021 | 24/09/2021 | 27/10/2021 |
| 15/12/2020 | Final | GBP | 0.0075 | 18/02/2021 | 19/02/2021 | 23/03/2021 |
| 10/12/2019 | Final | GBP | 0.0075 | 20/02/2020 | 21/02/2020 | 20/03/2020 |
| Top Posts |
|---|
Posted at 12/6/2024 06:37 by 18bt Some stability in profitability and a good forward looking statement. Initial £250k buyback with potential for up to £1m - sounds small but the market cap is only £12.7m of which 74% is in disclosed stakes. So assuming those holders retain their shares, actually £1m is 30% of the float. That might move the price. On a forecast yield of 6.3% @24p, there will be a non-trivial cash saving on the dividend of c£60k - 5% of forecast PBT. |
Posted at 14/12/2023 07:45 by 18bt Agreed battle - slightly better H2 than they had indicated and “encouraging enquiries” should lead to further recovery in 2024. Cap only £13.3m, so £5.8m of cash is a significant proportion and a £1m buy back for a share which yields 5.8% would be both earnings accretive and allow greater dividend cover for future payouts. It looks like it should now be able to deliver £1m of capital returns a year on top of any dividend - unless they can find other investment opportunities. But in most consultancy the only investment is a relatively small amount in people before they become profitable - which is usually Y2 of their employment. Expect a bounce in the shares. |
Posted at 14/12/2023 07:14 by battlebus2 Pleased with these resultsReturns to profitability with underlying O/P of £1 million Revs down slightly due to restructuring Dividend maintained 1.5p for year Positive outlook for 24 Cash £5.8 million or 11p per share Board eyes return surplus cash Unify global brand under Diales |
Posted at 08/11/2023 11:49 by moathunter I think cyclicality is behind the fall in share price and evidence is mounting that we’re heading for a trough.UK and EU are where DRV receives half of its revenue- the profitable half! – and the infrastructure and commercial construction sectors (i.e. non-residential housing) are heading for a contraction in 2024 and some of 2025: - hxxps://www.construc - - hxxps://think.ing.co - hxxps://www.construc - hxxps://tradingecono DRV struggled in 2010/11 as construction shrank, then expanded but had loose financial control in 2015/16 for more losses, then their growth overshot the contraction post-Covid 2021/22 for further losses. Given this backdrop, the next 2 yrs are at the very best to be flat with nil/negl. profit, and most likely to have minor losses. |
Posted at 08/11/2023 10:19 by terry236 Struggle is this business is a very illiquid micro cap whose recent performance hasn’t exactly been inspiring. Barely any volume traded on DRV most days. Price just continues to drift lower as few want to buy in. If you have a portfolio of decent size you need to be incredibly confident as once you’ve bought in size you’ll be locked in…The business needs to move on from its recent rocky path and forge back to back less problematic sets of results for the market to take real notice - the share price will double overnight if they can. Until then the only hope for the share price to perform is someone bidding for the business. |
Posted at 26/9/2023 11:19 by arthur_lame_stocks I don't know why ED expect NAV to decline in the second half given that the company is forecast to be profitable and also I don't know why they have downgraded their fair value price so much given that this promises to be the best year for some time, with a better year forecast next year.Personally I think these are easily worth 70p+ in a trade sale which is why I continue to hold and am happy to pick up the 5% dividend whilst I wait. |
Posted at 13/5/2023 12:13 by arthur_lame_stocks That's the reason I hold the shares spooky. AB traction built a stake in both Sweett and Waterman before both businesses were sold. I reckon the same thing will happen to DRV and have a price in mind of at least 70p a share. And it pays a reasonable dividend whilst I wait. |
Posted at 27/4/2023 06:46 by edmonda "Welcome news of progress"Full new research note with audio summary available here: The pre-close trading update from Driver Group was encouraging, with static revenues (signifying rising productivity), improving profitability and margins, and the move into the black for the first time in two years within the Middle East region. Cash levels continued to improve, highlighting the collection of doubtful debts and higher profitability. We expect the solid foundations put in place by the management team over the last 12-18 months will provide a strong base from which to grow meaningfully over the medium term. Although our estimates remain suspended pending further visibility, we note the NAV (FY22 end: £16.4m or 30.3p / share) and net cash account for 35.1% of the market cap. DRV’s wider consultancy peer group, trades on an average prospective P/B ratio of 4.4x, suggesting that a re-rating of DRV shares looks overdue now that an inflection point has been passed. Our fair value/share remains 49p. |
Posted at 12/4/2023 21:28 by battlebus2 Dividend payment tomorrow of 0.75p. Always welcome. |
Posted at 23/2/2023 07:46 by edmonda "A profitable start to the new year" - new research note with audio summary here: The new financial year has started strongly with a strong pipeline of opportunities and a lower cost base following an expanded rationalisation programme that resulted in most regions delivering a profit YTD in FY23. The results for FY22 were broadly in line with revised expectations, although the lack of forward visibility results in a continued suspension of estimates. That said, we expect FY23 to prove to be a turning point in the Group’s fortunes as utilisation levels improve now that projects are serviced globally. We are still suspending estimates reflecting a lack of visibility and ongoing uncertainty. While this makes the construction of forward-looking valuation models difficult, we highlight the NAV and within this the level of net cash at the FY22 year end. A historic FY22 price/book ratio amounts to 1.0x, on a book value of £16.4m, which equates to 29.8p/share. Furthermore, £4.9m or 9.1p/share of this is in cash, representing 30.7% of the Group’s NAV. Comparing DRV to a wider consultancy peer group that trades on an average historic P/B ratio of 4.7x, suggests that DRV (on 1x NAV) remains significantly undervalued. We retain our fair value/share of 49p. |
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