Good morning, it’s Paul here.
I have to head into London late morning, so this report will be earlier, and a bit briefer than usual. The results/updates that I intend covering are in the article header.
Driver (LON:DRV)
Share price: 63.5p (pre market open)No. shares: 53.9mMarket cap: £34.2m
Final results
Driver Group PLC (AIM: DRV), the global professional services consultancy to construction and engineering industries, is pleased to announce its results for the financial year ended 30 September 2017.
This looks like a nice turnaround situation, which has been reflected in a recovering share price (up nearly 50% from its 2017 low in the spring). The highlights look good;
That’s a decent swing back into profitability.
I also like that net debt has been almost eliminated, mainly from an £8.5m equity raise in Feb 2017.
Underlying EPS for continuing operations was 5.8p (2016: loss of 1.0p). Assuming that they are calculated on the same basis, that looks well ahead of the 4.2p broker consensus shown on the StockRank.
However, an important point to note is that the share count rose considerably about half way through the year, due…
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