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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Driver Group Plc | LSE:DRV | London | Ordinary Share | GB00B0L9C092 | ORD 0.4P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 26.00 | 24.00 | 28.00 | 26.00 | 26.00 | 26.00 | 6,086 | 07:37:29 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Heavy Construction, Nec | 42.63M | -336k | -0.0064 | -40.63 | 13.66M |
From Apr 2019 to Apr 2024
TIDMDRV
RNS Number : 1154E
Driver Group plc
16 October 2018
16 October 2018
DRIVER GROUP PLC
("Driver" or "the Group")
Trading update and notice of preliminary results
Driver Group, the global professional services consultancy to construction and engineering industries provides an update on trading performance during the second half of the financial year ending 30 September 2018.
The Board is pleased to report that the Group has continued to perform well during the second half and, as a result, that it expects to report underlying PBT* for the financial year comfortably ahead of current market expectations at approximately GBP3.8m. The non-cash share-based payment charge deducted in calculating reported PBT will be assessed as part of the audit sign-off process. It is anticipated that this may increase further as the Board's expectations of future performance strengthen.
The UK business has again performed strongly and there have also been exceptionally good performances this year in Kuwait, Qatar and Singapore. Overall, the Group has achieved significantly enhanced utilisation levels of 80% for 2017/18 (76% for 2016/17) and there remains a vigorous and vigilant focus on the management of overhead.
Continued focus on the management of working capital has delivered excellent cash generation during the year resulting in a net cash position of GBP6.9m at the year end, also comfortably ahead of market expectations. This compares to a net debt position of GBP0.2m at the same time last year.
The Board expects to report preliminary results for the year ending 30 September 2018 on or around 11 December.
*Underlying figures are stated before share-based payment costs, amortisation of intangible assets and exceptional items.
Enquiries Driver Group plc Gordon Wilkinson (CEO) David Kilgour (CFO) +44 (0)20 7377 0005 N+1 Singer - Nominated Adviser +44 (0) 20 7496 3000 Sandy Fraser sandy.fraser@n1singer.com Jen Boorer jennifer.boorer@n1singer.com Acuitas Communications - Financial +44 (0) 20 3687 0868 PR simon.nayyar@acuitascomms.com Simon Nayyar fraser.schurer-lewis@acuitascomms.com Fraser Schurer-Lewis
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
TSTLLFLTIELELIT
(END) Dow Jones Newswires
October 16, 2018 02:00 ET (06:00 GMT)
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