Driver Share Discussion Threads

[bigbigdave] 08/8/2024 05:38

New DIAL thread

[chrisdgb] 26/7/2024 08:37

Shares well supported by the current buyback......

[chrisdgb] 12/7/2024 15:12

New Diales thread needed...?

[edmonda] 13/6/2024 15:10

Video recording - Investor Presentation (June 2024) - Interim Results

Mark Wheeler, CEO and Charlotte Parsons, CFO of Driver Group held an online Investor Presentation covering highlights of Interim Results for the six months to end March 2024.

Management provided operational, financial and regional updates, including the Middle East and APAC returning to profitability, good progress on the Group's transformation strategy, the opportunity for M&A, and increasing Diales’ expert headcount. The team discussed the share buyback programme and answered a range of questions submitted by viewers.

The full video has been divided into chapters, as below:
0:00:03 Introduction
0:00:49 Service Offerings
0:03:59 Operational Highlights
0:06:54 Financial and Regional Updates
0:09:34 Cash flow Bridge
0:11:10 Outlook, Summary and strategic update
0:15:12 Questions & Answers

Link to video:

[terry236] 12/6/2024 08:03

Obviously over time not in one lump!

[terry236] 12/6/2024 08:02

Would prefer to see the shares bought back being cancelled. They’ll stick them in treasury and then give them free as part of the Boards bonuses.

[chrisdgb] 12/6/2024 07:46

Definitely all cleaned up, unified brand going forwards, done deal...........

[value hound] 12/6/2024 07:30

Bit of a damp squib reaction and worth closer to 40p imo.

It's looking more saleable now, which I would guess is the probable endgame????

[edmonda] 12/6/2024 06:49

"Interim Results - Good start to Q3, pipeline growing"

The strategic plan implemented in late CY22 is working, with utilisation levels benefitting from the move to a hub-and-spoke operational model and a return to profitability in the smaller Middle East and APAC regions.

H2 24 has started positively, particularly in Asia, as the relatively new office in Seoul is delivering on its early promise. The order pipeline continues to expand, benefitting from the rise in expert headcount. The Board has set aside £1m of ‘excess cash’ to buy back shares and to evaluate M&A in existing and related sectors.

We maintain our fair value of 40p/share. With a sector-leading yield, currently standing at 6.0% for FY24, compared to the average of its peer group of 0.5%, Driver’s share price remains undervalued relative to a basket of its peers and is heavily backed by cash and the NAV.

Link to research report:

[18bt] 12/6/2024 06:37

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.

[spooky] 06/6/2024 07:35

I see the traditional nibbling ahead of numbers has begun again.

[chrisdgb] 05/6/2024 07:34

Well results a week today should help us see what shape the business is in.......

[chrisdgb] 09/5/2024 09:39

Just going to drip more cash into this one.........

[terry236] 03/5/2024 15:43

Been thinking that for a long time but hasn’t happened. They will probably be bid for when they are actually making real progress on the bottom line

[chrisdgb] 03/5/2024 08:54

Hovering around these levels will surely drive a bid.....

[edmonda] 25/4/2024 06:30

Trading update - activity remains on budget

The pre-close trading update from Driver Group delivered encouraging progress overall, with the smaller regions returning to profitability and a positive performance in the UK and Europe. The cost rationalisation was completed during the period following the move to a smaller London office. Cash continues to remain high, representing 32% of the market capitalisation.

The strategy put in place in H2 of FY23 is expected to deliver higher revenues and profitability ahead of 2027, not least reflecting the focus on added-value expert services.

We see little reason to adjust our 40p fair value/share, with no change to estimates. The share price remains below the NAV currently and is underpinned by cash.

Link to research report:

[chrisdgb] 15/4/2024 09:55

Agreed, certainly in the market doesn't care category......

[norbert colon] 15/4/2024 09:14

Expecting a trading update in the next couple of weeks. Prelims highlighted a leaner cost base going into 2024. Valuation almost at an all time low seems anomalous.

[tradertrev] 26/3/2024 21:25

Not enjoying this slide in the share price. Do we assume that H1 hasn't gone very well?

[spooky] 22/2/2024 16:29

They indicated very clearly that they intended to buy back shares, but there still hasn't been an announcement. I am not impressed with managements slow progress with this.

[chrisdgb] 22/2/2024 14:52

Did well on takeovers last year and I firmly believe the true recovery will never be seen with this one as someone will get there first......

[norbert colon] 05/2/2024 14:25

New office open in Dublin for Driver Trett

[chrisdgb] 18/12/2023 09:33

Agreed, all looking much brighter here for 24'........