Driver Share Discussion Threads

[value hound] 30/3/2022 11:31

These were available to buy at 26p first thing as Simon T called sell on them after yesterday's trading update, so I got some more as I disagree. He often says sell when things go awry as he doesn't want to be seen covering losers; bit like a fund manager in that regard IMO.

But they seem to be sorting things out in the Middle East which is the main drag on profits. A return to just half what they regularly made over recent years, plus the strength in the balance sheet makes them worth at least £26m / 49pps IMO - and that would still be pretty stingy.

[trident5] 29/3/2022 08:29

Looks like CFO wasn't delivering the information needed, and the CEO didn't notice until advised by external parties.

[18bt] 29/3/2022 07:53

CFO takes the blame for business mismanagement...

[arthur_lame_stocks] 29/3/2022 07:32

Well now we know the reason for the continued price weakness, I suspect it's going to fall even more today.

[dangersimpson2] 28/3/2022 17:35

According to the AR, in 2021 £391k of external revenue was from Russia = 0.8%. There were no non-current assets of the group in Russia.

I would therefore say the exposure is negligible.

[arthur_lame_stocks] 26/3/2022 13:11

I don't know, I was wondering the same thing myself. I would have thought if they did the company would have made an announcement.

[tradertrev] 25/2/2022 17:38

Do we have lots of business in Russia or Ukraine? Trying to work out why the extreme weakness.

[tradertrev] 04/2/2022 08:55

Surprised these have continued to be weak after the strong hint about a share buyback in the Q&A session of the presentation referred to in the above post.

[melloteam] 24/1/2022 17:32

Just to let shareholders and prospective investors know that Trident Royalties plc and Entelechy Academy will be presenting at the Mello webinar event on Monday 24th January 2022 at 6.00pm - 9.30pm. Driver Group will also be featured in the BASH.

The programme is as follows:

6.00 pm Mello welcome and news
6.05 pm Peter Pereira Gray introduces Entelechy Academy
6.10 pm Company presentation by Entelechy Academy
6.30 pm Mello Bliss Share Competition
6.45 pm Company presentation by Trident Royalties
7.15 pm Steve Clapham highlights some more red flags in company accounts
7.35 pm Twitter panel – Twitter thoughts for investing in 2022
8.10 pm Mello BASH – Kevin Taylor, Mark Simpson and Richard Crow – Driver Group (DRV), Card Factory (CARD) & Gulf Marine Services (GMS)

There will be over 500 investors attending and these are very popular shows with company presentations, fund manager and investor interviews, and panel sessions.
Tickets are still available and if you would like one at half price then enter the code MMTADVFN50.

[trident5] 24/1/2022 12:16

Always some time in the future with this one.

[edmonda] 24/1/2022 11:23

Driver today announce their full year results which are in line. With a lot of cost rationalisation behind them, we believe that Driver is well placed to benefit from improved activity levels, likely from H2 ’22 onwards.

[rp19] 24/1/2022 10:38

Even taking into account the impacts of Covid, I was a bit disappointed with the extent in drop-off in in performance between the particularly strong trading performance in Q4 2021 and Q1 in 2022. This seems to have transpired into a lowering of broker forecasts (Equity Development). However, if this is just a 'wobble' as Equity Development suggest may be the case, then there is scope for out performance and a bounce back from these levels. Next Trading Statement likely to be key.

[norbert colon] 24/1/2022 09:05

Singer updated note out with 70p TP

[tradertrev] 24/1/2022 08:38

This assessment of the situation in Oman has been reviewed and signed off by the auditors, which suggests no material downside risk from the situation.

[orange1] 24/1/2022 08:06

6 POST BALANCE SHEET EVENTS

Further to our announcement of 09 December 2021 (RNS number 0504V) Driver Group have become aware that its principal customer in the Sultanate of Oman, is being investigated by the public prosecutor and these investigations include a party connected to the Driver Group's Oman based subsidiary. Driver Group has been making its own enquiries to understand the nature of the investigation, details of which are not in the public domain. Our enquiries indicate that the investigation does not concern the Driver Group's Oman based subsidiary's operations and the subsidiary itself is not believed to be part of the investigation.

[tradertrev] 24/1/2022 08:06

Sign of confidence that the final dividend is held, making the full year dividend higher than in FY19, the last undisrupted year.
Surprised the shares haven't moved up smartly this morning - no reason why they shouldn't get back to the 60's where they were before the audit holdup was announced.
Maybe we have to clear a seller, though I would have thought the seller would increase their limit on this report.

[18bt] 24/1/2022 07:52

Well results don't seem to contain surprises, except that the Run rate for the final Q exceeds the forecasts for 2022. No obvious commentary upfront on the issues causing the delay - but need to delve around the backend later.

[sharw] 19/1/2022 16:14

From AB Traction:

EXIT STRATEGY
• It is important to Traction that our companies display
long-term growth and earning power. Traction has no
strategic holdings or other motives for its ownership than
the strictly commercial ones. As a matter of principle, our
holdings are always for sale at the right price and to
a suitable owner. In companies where we have owner
companions, the exit strategy varies depending on which
development phase the companies are in, and specific
prerequisites, especially the intentions of other owners.

[value hound] 18/1/2022 13:26

the more short term difficulties DRV face, then possibly the more likely a bid in the short term?

I agree FWIW, thirty fifty twenty, and view DRV as a bit of a sitting duck - though anyone would have to persuade AB Traction & Gresham over a deal (unless AB Traction try to take it private). That doesn't make it unique though - quite a few other small-mid caps with excellent balance sheets in a similar sitting duck position; I just wish the hunters would start taking their pot-shots.

[thirty fifty twenty] 18/1/2022 12:42

thanks norbert - i'm not sure if i read this as good news for DRV or not!

does delays in settling disputes means they get paid more,
or does it mean later before they get paid?

obvs the bigger issue is resolution of their internal issues.

still in the scheme of things, the more short term difficulties DRV face,
then possibly the more likely a bid in the short term?

All IMHO, DYOR + BoL
DRV is in my portfolio

[egrid1] 05/1/2022 10:28

"Sweden-based AB Traction has taken a 14.2% stake in Driver Group (LON:DRV) and the last two property and consulting services companies that it built up stakes in were subsequently taken over.

NASDAQ OMX Nordic Stockholm Mid Cap-listed AB Traction acquired the stake all at once. Manchester-based Castlefield Fund Partners sold a 15.99% stake on the same day.

The share dealing happened on week after Driver reported its full year results. These showed a much stronger second half."

hxxps://ukinvestormagazine.co.uk/ab-traction-takes-driver-stake/

That stake has already been increased to 20% according to RNS

[standish11] 09/12/2021 14:36

Simon T is on leave until 5 Jan.

[trident5] 09/12/2021 09:15

Stream of sells today. And that rns doesn't look good.

Oman revenue in 2020 accounts was c£5m.