UK's Driver group down on full-year loss forecast

Diales

11/11/2022 12:21

** Shares of consultancy services provider Driver Group
 DRV.L  down as much as 6.8% at 27p; their lowest in more than a
month  
    ** Co expects to report an underlying loss before tax of 0.3
mln pounds($352,890.00) for financial year ended Sept. 30, 2022
compared to a profit before tax of 2 mln pounds in
2021 urn:newsml:reuters.com:*:nTUC5KPVFH
    ** Adds implemented plans to scale costs back further to
account for lower revenue expected as result of Middle East and
Asia-Pacific reorganisation
    ** Co says UK, European and North American offices had a
profitable year within management expectations, delivering an
operating profit of 4.2 mln pounds
    ** Co expects to report full-year results in February 2023
    ** Including session's loss, stock has fallen 5.17% YTD
($1 = 0.8501 pounds)
 (Reporting by Hani Kollathodi in Bengaluru)
 ((Hani.Kollathodi@thomsonreuters.com;))