Driver Share Discussion Threads

[norbert colon] 17/4/2020 10:19

https://www.linkedin.com/posts/driver-group---diales_tcc-workingfromhome-virtualinterviews-activity-6656546862604132352-RVoU

[rp19] 27/3/2020 19:34

Would like to see an update, but I'm hopeful that its increasing focus on claims and dispute resolution should provide strength going forward.

[spooky] 27/3/2020 17:05

Thanks for clarifying that. There are a number of small caps with obvious long term value but as always, timing is very important.

[solooiler] 27/3/2020 16:30

That's a quote from their latest results. The bit that starts as i have highlighted above. Sorry not very clear.

Yes I think there might be a better opening opportunity

[spooky] 27/3/2020 15:46

When did you highlight this above? Were you using another name? Not sure how a short term negative outweighs a medium term positive with an investment, unless you are pointing out that there will be a better opportunity in price terms when they warn.

[solooiler] 27/3/2020 15:33

more than offset by short term negative imv. they said this in december before covid was even a thing to the west

As I have highlighted above, in a professional services business such as Driver, it is always difficult to predict activity levels and we have certainly experienced this over the past year, with projects that we expected to convert instead delayed or deferred. I have however, been pleased to see that, as we look to the future the business is capable of being profitable and cash generative in good times and less good times.

[spooky] 27/3/2020 15:23

Am i being naive in thinking that in the medium term this has to create a lot of business for DRV?

[norbert colon] 27/3/2020 15:05

https://www.constructionnews.co.uk/financial/coronavirus-delays-hit-26bn-worth-of-projects-27-03-2020/

[norbert colon] 17/3/2020 21:51

"Generally I am sure we will see delays on projects...."https://www.bdonline.co.uk/news/architects-warn-delays-and-tender-prices-could-hit-cash-flow/5104922.article

[norbert colon] 17/3/2020 14:41

https://www.driver-group.com/Covid-19-UpdatePicked up a little more stock today ahead of the upcoming trading update.

[davebowler] 27/2/2020 13:33

Simon Thompson extract from Dec 19 tip update-

The much improved margin performance reflects the swift action management took to realign the cost base in light of a first half slowdown in Asia Pacific and Middle East, regions that account for half of revenue. Finance director David Gilgour says that Driver’s break-even revenue point has been lowered by £400,000 per month, or double management’s initial target, at a cost of only £400,000, highlighting how the business can react quickly to cut its cloth. Refreshingly, the one-off item was charged against normal operating costs rather than as an exceptional item.

[norbert colon] 25/2/2020 16:57

It's on Thursday at 2.30pm (not tomorrow) and yes I am attending. I've sent you a DM.

[lordoftiverton] 25/2/2020 16:38

Is anyone attending the AGM at 2.30 tomorrow?

[cheshire man] 06/2/2020 10:52

Builders’ Conference reports 33% rise in monthly orders

[norbert colon] 26/1/2020 21:49

Certainly I believe there are lots of ducks in a row re: AUK being acquired or some form of Corporate Action:1) Undervalued based on historical peer group M&A2) Long history of M&A and consolidation in this sector3) A management team (CEO/Chair) and major holders at an age where they are looking for an exit. Over 50% of stock held by mgt team and ex. Directors4) Improving financials namely a return to profit (results due this coming week)Lost opportunity cost and no dividend whilst waiting however....

[fillipe] 26/1/2020 19:50

AUK - one of mine in a fairly big way, very much to be "taken out".
It's just starting look like being ready for that.

f

[norbert colon] 18/12/2019 16:59

Hi MarkI believe that Traction made about 57% return on WYG given their average price of 35p over 18 months.They are not typically activist but it's great to have them on board. RPS and AUK are the remaining two listed business also likely to be acquired at some point.

[cheshire man] 18/12/2019 15:40

Well can see us been taken out but not to cheaply I hope

[trident5] 18/12/2019 14:46

It's Traction AB - very perceptive NC!

[norbert colon] 17/12/2019 11:21

Could be another fund, could be someone like HKA or FTI looking to acquire them or it could be someone like Traction AB who were also invested in Waterman and WYG. Looking forward to finding outs

[my retirement fund] 17/12/2019 11:13

Not exactly sold at a premium either so does not instill confidence. Wonder who took them ?

[orange1] 17/12/2019 09:25

The biggest shareholder Sandford Deland Asset Management have today sold their entire holding of 8.1 m shares.

[arthur_lame_stocks] 16/12/2019 10:22

I bought a few of these today. I think they're cheap and with a rock solid balance sheet. The share buybacks should support the price at about this level and they could be a takeover target.

[norbert colon] 17/10/2019 18:48

https://www.investorschronicle.co.uk/comment/2019/10/17/driver-delivers-strong-second-half/

[norbert colon] 15/10/2019 08:57

With FY19 PBET now lower than targets set in Feb 2018 (see p. 18 and 19 of 2018'annual report) for mgt share based payments (£3.7m PBET needed) then 600k shares will now not vest. Net earnings hence likely to now exceed FY18 giving PE11. #M&A target and maintain min 80p valuation - more likely 90p if a bid arises given £5m net cash.