Driver Share Discussion Threads

[tradertrev] 12/4/2023 10:21

.....although is was announced on 23rd Feb in an RNS.

[chrisdgb] 12/4/2023 08:55

Thanks, looks a nice appointment..........

[norbert colon] 12/4/2023 08:35

https://www.driver-group.com/en/europe/news/new-non-executive-chairman

[battlebus2] 03/3/2023 12:57

Yes unlikely they will buy.

[tradertrev] 03/3/2023 12:46

60p should do it!

[arthur_lame_stocks] 03/3/2023 11:39

I don't expect AB Traction to bid. I think it is more likely they will force a sale of the company as at Sweet and Waterman.

If that happens I expect to get at least 60p a share.

[cjohn] 03/3/2023 10:04

AB Traction surely would have used the recent price weakness to buy shares (like myself and others), if they really did want to take overall control.

My guess is that Ruffer wanted out and approached AB Traction, rather than vice versa. The quantity offered was perfect for Traction as it keeps them below the 30% threshold.

Chance of a Traction takeover 35%?


PS Results as expected: promising.

[battlebus2] 03/3/2023 08:22

Buyers seeing the attraction like myself of AB adding by adding buying this morning.

[terry236] 02/3/2023 18:23

Only a matter of time before they go for the whole thing (have thought that for the last 3 years though 🤣)

[battlebus2] 02/3/2023 16:46

Great news 👍

[value hound] 02/3/2023 16:13

Yes, confirmed, now over 27.5%

[terry236] 01/3/2023 20:13

Let’s hope

[battlebus2] 01/3/2023 18:56

That would be Ruffer’s holding. Maybe AB Traction have bought them.

[jay083] 01/3/2023 18:14

interesting 3.49m trade at 31p....

[rp19] 23/2/2023 13:35

No doubt starting from a low base but good to see progress in the US ("major project work has been secured; the team has doubled every six months since its inception; and we now have a well-established platform ensuring that we are positioned for sustainable future growth").

[boystown] 23/2/2023 08:24

Not bad at all. It looks like they should be able to return to pre-tax of over £1.5m going forward, which implies a fairly unambitious valuation of more like £25m or 48p per share - which is exactly where it was just over a year ago before the Middle East problems - a boil which has now been lanced.

[edmonda] 23/2/2023 07:46

"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.

[18bt] 23/2/2023 07:43

Results and new chair worth looking at. Business has at least stabilised and should now grow off this lower base.

[norbert colon] 21/2/2023 18:50

I've been a recent buyer again. Results won't be good (as already flagged in the TS), however, with the Middle East business streamlined and good growth in the UK, Europe and US (incl a likely return to profit in Q1) things seem to be on the turn.

[arthur_lame_stocks] 21/2/2023 18:06

Interesting that the price has been rising coming up to the results. Is there a belief that they'll be better than expected? Personally I can't imagine them being all that good but hopefully the outlook for the current year is much better.

I'll continue to hold if only for the dividend which I expect to be maintained.

[boystown] 09/2/2023 12:21

Am I wrong - or isn't today's announcement a good sign as it means they can't warn on profits?

[battlebus2] 31/1/2023 18:33

Yours or mine 🤣