I Read The News Today Oh Boy! 11-Mar-2019

Monday, Mar 11 2019 by
12

Morning all!

Driver ( Driver (LON:DRV) ) – 67.5p – £36.4m – PER 10.1

Trading Update – FY Underlying PBT to be slightly below last year, circa £3.5m.

With expectations of 15%+ growth in PBT this year this is somewhat disappointing, I hold and am fecking annoyed to say the least that insiders were clearly dumping stock on Friday here.

As always, all comment most welcome!

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Driver Group Plc (Driver) is a United Kingdom-based company, which provides consultancy services to the engineering and construction industries. The Company conducts its operations through three operating divisions: Europe & Americas (EuAm); APAC, Middle East & Africa (AMEA), and Initiate. The EuAm and AMEA divisions provide various services, such as quantity surveying, litigation support, contract administration, and commercial advice/management. The Initiate division offers development, project and contracting management services to the infrastructure market in the United Kingdom. DIALES is its witness support service provider. Driver Project Management provides the strategic and leadership disciplines necessary to develop and deliver a project. Driver Project Services provides customer-focused project controls solutions across a project lifecycle. Driver Trett provides multi-disciplinary consultancy services to support delivery of its clients' projects. more »

LSE Price
52.5p
Change
 
Mkt Cap (£m)
27.4
P/E (fwd)
9.4
Yield (fwd)
2.5



  Is LON:DRV fundamentally strong or weak? Find out More »


4 Posts on this Thread show/hide all

MrContrarian 11th Mar 1 of 4
5

My morning smallcap tweet: ME & Asia screws Driver

Charter Court Financial Services (LON:CCFS), Northern Bear (LON:NTBR), Quarto Inc (LON:QRT), IDE Group (LON:IDE), Driver (LON:DRV)

Charter Court Financial Services (CCFS) in advanced merger discussions with OneSavings Bank with 0.8253 new OSB shares for each Charter Court share. Charter Court shareholders would hold ~45% of the combined group.
Northern Bear (NTBR) first 10 months of FY ahead of mgmt expectations. Guides op profit broadly flat YoY. No forecasts. Says previous year was 'outstanding'. I hoped very mild winter would have boosted H2 YoY but no. I hold.
Quarto (QRT) mixed language in FY results. Rev down 2%, adj EPS 23.0c (17.8c). Has cut no of imprints and cut overheads, expects the ongoing soft market conditions to continue. CEO is "very passionate about returning the Group to full health". But is he 110% passionate?
IDE Group (IDE) H2 trading performance improved after previously announced cost cuts. Has settled outsourced service dispute, saving c.£3m over 3 years. Group now expects significantly reduced adj EBITDA loss compared to H1.
Driver Group (DRV) Guides U/L FY pretax ~£3.5m which is below previous year. Blames weak Middle East and south-east Asian markets.

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shipoffrogs 11th Mar 2 of 4
2

Yes - definite inside trading on Driver (LON:DRV) late last week. Nothing will be done of course.

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iwright7 11th Mar 3 of 4
1

Yes Driver (LON:DRV) disappointing on obvious Friday insider trading and its update. Sold mine 1st thing because it will annoy me to continue to look at such a big %drop when I should be able to deploy the remaining monies better.

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Asagi 11th Mar 4 of 4

steady as she goes at Orchard Funding (LON:ORCH)

https://www.investegate.co.uk/orchard-funding-grp--orch-/rns/half-year-results---six-months-ended-31-1-19/201903110700073802S/

looks like they took just six weeks to get the H1s out. Essentially, the company is a smallcap lender. Mcap £17.5m, P/E 16.4, yield 3.9%. Quite a large spread, as you might imagine. Management speak is confident but no signs of trouble or go-go growth coming down the pike.

Asagi (no position)

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