Driver Group – ready to progress in tighter and more profitable ways
This group is a leading global professional services consultancy for the construction and engineering industries. It provides multi-disciplinary consultancy services, such as expert witness, claims and dispute resolution services.
On Thursday 15 December Driver Group (LON:DRV) will announce its finals to end September this year.
Estimates of £53m of revenues, down £5.5m, for the year could well see £2.5m pre-tax profits being reported (£3.24m). That would kick in earnings of 3.7p against 4.7p previously.
The group has been reorganising itself under the new CEO Mark Wheeler, only appointed in June this year.
A cost reduction programme is now underway, with particular emphasis upon higher-margin business being secured.
The £28m capitalised group has some £8m cash in the bank, which should give it some confidence and financial strength as it faces the current year, for which the group has given the market no guidance (as yet).
At 53.75p the shares could react well and smartly to any good news with the final results.
(Profile 23.04.19 @ 59p set a Target Price of 85p)