News blog
Driver Group
- BY: Andrew Hore |
- POSTED: 13/06/2008 |
Driver Group reported further strong growth in interim profits.
Driver provides dispute resolution and other services to the construction sector. Revenues grew 27% to £7.5m in the six months to March 2008, while profits grew 36% to £918,000. There was one month of trading from the recently acquired CMC business. It contributed £32,000 to profits. CMC made an operating profit of £448,000 on revenues of £3.77m in the year to November 2007.
Nuclear was one of the fastest growing business areas. There is little exposure to the residential sector in the UK.
The Middle East is the fastest growing part of the business. Revenues grew by 40% in the first half. Demand is outstripping the supply of experienced staff.
Driver maintained its interim dividend at 0.95p a share because it says that it wants to concentrate on using its cash to grow the business. Net debt is just over £1m following the acquisition of CMC.
At 85.75p a share, up 13% over the past week, Driver is valued at £22.6m.
© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|