Driver Share Discussion Threads

[rp19] 17/10/2013 12:22

Nothing new, but a small comment it today's Shares mag under the heading 'Driver stays in the fast lane'

"Keep buying construction-to-oil sector contract dispute expert Driver at 127p. The small cap says cash is better than expected. There is clear momentum in the business now and Driver now has balance sheet strength which it previously lacked. Full-year results are expected in mid December (DC)".

[rochdae] 14/10/2013 17:07

Nice share this. Wish I had bought more.

[pj 1] 11/10/2013 07:58

Oh! FWIW I increased my holding by 20% by taking that the wording ''Headline revenue is significantly ahead of the previous year and profit before tax is in line with management expectations'' means Managements expectations are ahead of Market expectations

[battlebus2] 10/10/2013 21:21

Good luck Ic2, i think everyone appreciates the honesty of a holder to state when he/she has sold up especially when it's for the benefit of others. Thanks.

[saucepan] 10/10/2013 21:07

For what it is worth: I sold half my holdings today, as a compromise.

The bull side for me is the chart. It reminds me of JDG: one that just keeps going and going. There is a chance that DRV will do the same. I will hold what I have while the uptrend remains in place.

On the bearish side: the update, while positive, was only 'in line'. There are other stocks to go for that are trading 'ahead'.

[interceptor2] 10/10/2013 20:46

effy123 :o)

I could have sold my holdings and kept quite I guess, but I felt it was best practice to be upfront about my actions, even if it does look a bit odd after all of my positive comments.

Shame to see them go because I have held these a long time, but I think I will be back at some time after the results.

Agree that there is plenty of milage left in Driver, lets just hope I can get my timing right.

ic2...

[effy123] 10/10/2013 18:18

"...I am a little embarrassed after all my positive comments yesterday, to admit to selling my holding this morning..."


I must admit I found this quite amusing after your posts of the previous couple of months - "my largest holding", "wish there were more stocks like DRV", etc., etc.

Hope it works out for you although strange timing having just hit new highs this morning.

Plenty of mileage left in DRV imho. You never know, potential suitors may even be taking a little more notice these days.

[rp19] 10/10/2013 13:05

Confident update. Strong hold for me.

[bigbigdave] 10/10/2013 12:22

A little surprised with you decision there ic2 but best of luck!

[interceptor2] 10/10/2013 10:36

Already in Sweet Group SuperstarDJ :O)

ic2...

[superstardj] 10/10/2013 10:19

ic2 - you should switch into Sweett Group. We are due a trading update mid month and it's hard to imagine it will be anything other than uber positive.

Incidentally that DRV cash position is much stronger than I expected.

[interceptor2] 10/10/2013 09:45

Very nice trading update which gives conviction that 2014 will see benefits from oil/gas sector start to kick in imo.

I am a little embarrassed after all my positive comments yesterday, to admit to selling my holding this morning. For no better reason than a hunch that the share price may consolidate until after the results. But I will have to make sure that I start buying back before the February trading update, which could be rather bullish.

I have had a good ride here, so I hope it doesn't consolidate now and starts to really fly for holders here.

Regards ic2...

[cfro] 10/10/2013 09:24

Impressive list of contract wins from Wood, PJ 1, and anotehr impressive trading update from DRV too. :-)

[pj 1] 10/10/2013 08:29

DRV-Following on from IC2 's commments on the ZULU thread see below summary of Wood Group contracts wins since 8/7/2013 (when DRV announced contract with Wood Group)

10/07/2013 Wood Group Wagners (WGW) has secured a $10 million (AUD) contract extension from GLNG operations Pty Ltd in Australia.
23/07/2013 Wood Group PSN awarded Papua New Guinea contract
01/08/2013 Wood Group Kenny wins $18m contract for an initial 12 month period engineering contract with BP Angola
06/08/2013 Wood Group PSN (WGPSN) has retained its contract with Dana Petroleum for integrated support services (ISC) in the North Sea
29/08/2013 Wood Group GTS awarded $13M contract in Myanmar
03/09/2013 Wood Group GTS awarded a multi-million dollar, three year Total E&P Nederland contract extension
10/09/2013 Wood Group wins multiple contracts in India valued at more than $10 million
12/09/2013 Wood Group GTS awarded multi-million dollar Centaur to Taurus turbine upgrade and long-term maintenance contract
24/09/2013 Wood Group GTS awarded a multi-million dollar, 10-year term long-term, service agreement for Taurus 60
25/09/2013 Wood Group GTS awarded $3M South American rotor overhaul and parts supply
30/09/2013 Wood Group GTS awarded solar power plant center-line construction project by ARB $2.0m
04/10/2013 The Group continues to deliver good growth and is confident of achieving 2013 performance in line with expectations
09/10/2013 Wood Group and Siemens form joint venture to create global integrated rotating equipment service provider

[broadwood] 10/10/2013 07:55

Happy enough with that. Should be able to maintain the recent gains.

[battlebus2] 10/10/2013 07:20

A loverly Pre Close Trading Update!

Driver Group, the global consultancy to engineering and construction industries, is pleased to make the following trading update ahead of the announcement of its results for the year ended 30 September 2013.

The Board is delighted with the Driver Group's overall performance in what has been an excellent year for the Company. Headline revenue is significantly ahead of the previous year and profit before tax is in line with management expectations. The year end net cash position is materially better than expected with year end cash expected to exceed GBP1.0 million.

Africa, Europe and the Middle East all finished the year strongly with good forward order books for the new financial year. The recently opened Hong Kong office and potential of the Australia office provide optimism for the Asia Pacific Region following a year of investment.

The Board expects to announce the Group's preliminary results in mid-December 2013 and look forward to providing further information at that time.

[bigbigdave] 10/10/2013 07:06

Nice update, should give us a boost.

[interceptor2] 09/10/2013 20:38

Thanks for the explanation, must admit that OBV is a new one to me.

If you look at the link below, you will see the reason for the volume spike at the end of July, after which volume returned to more normal levels. I think the RNS is fairly reasurring.

[petersinthemarket] 09/10/2013 20:11

Quite right - sorry if i confused.

[pj 1] 09/10/2013 19:55

I think he meant On Balance Volume rather than OBV ticker?

[interceptor2] 09/10/2013 19:53

I am sorry petersinthe market, I can't comment on OBV because I have never heard of them and I can't find them?

I do know about Sweet Group CSG which I also hold, who are in the same sector as DRV. They are also issuing very bullish trading updates, and are perhaps 12 month's behind DRV in their recovery phase. I also noted the full year results from Waterman Group on Monday, which also operates in the same sector. Even though the results looked poor, the outlook statement was pretty bullish, so the sector is doing very well imo.

ic2...

[petersinthemarket] 09/10/2013 19:41

Looking to get into DRV - most technicals look very promising, but I note the OBV took a heavy dive end of July and does not seem to have recovered - Anyone care to comment?

[interceptor2] 09/10/2013 19:10

If only BBD :o)

Maybe geswan has changed his mind and decided to start buying here?

ic2...

[scottishfield] 09/10/2013 19:09

was trying to buy online today but couldnt get any. Is this often the case, is the stock tightly held, illiquid etc?

[battlebus2] 09/10/2013 19:08

Great, new highs :))