Driver Group plc Pre-close period trading update (6438T)
2014年10月7日 - 7:27PM
RNSを含む英国規制内ニュース (英語)
TIDMDRV
RNS Number : 6438T
Driver Group plc
07 October 2014
7 October 2013
Driver Group plc
("Driver Group" or the "Company")
Pre Close Trading Update
Driver Group, the global consultancy to the engineering and
construction industries, is pleased to make the following trading
update ahead of the announcement of its results for the year ended
30 September 2014.
The Board is delighted with the Group's overall performance in
what has been another excellent year for the Company. Headline
revenue is again ahead of that in the prior year and profit before
tax is in line with management expectations. The year end net cash
position is materially better than at the half year with c.GBP1m
cash inflow in the period.
The results for the year have been achieved despite the
challenges of foreign exchange movements and the losses incurred by
the Houston business. As the year has progressed it is clear to the
Board that it is able to deliver its Oil & Gas offering
throughout the world, including to global American customers in
overseas locations, without the need for a Houston Office and
therefore made a decision to close the office with effect from 30
September 2014. It is however pleasing to report that all
continuing regions traded profitably in the second half.
Europe had a strong second half performance and Asia Pacific
became profitable during this period with Australia performing very
well in its first full year of trading. Africa also had a solid
second half returning to profits following a slow start to the
year. A quieter July and August in the Middle East following the
early settlement of work being undertaken by the Company in this
region led to a temporary reduction in revenues and profit in the
period. Notwithstanding this, the region continues to be the Groups
strongest performer and activity in the region has returned to
normalised levels.
The Board expects to announce the Group's preliminary results in
mid-December 2014 and look forward to providing further information
at that time.
Enquiries:
Driver Group plc
David Webster, Chief Executive Tel: +44 (0) 1706 223999
Damien McDonald, Group Finance
Director
Alan McClue, Non-executive Chairman Tel: +44 (0) 7791 546798
Charles Stanley Securities
Nominated Adviser & Broker
Marc Milmo / Carl Holmes Tel: +44 (0) 207 149 6000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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