Business
Final Results
Final Results.
About this update from Diales Group Plc
[{"type":"text","content":"\n \nRNS Number : 0255Z Driver Group plc 12 December 2017 \n\n12 December 2017\nDRIVER GROUP PLC\n(\"Driver\" or \"the Group\")\nFinal Results\nDriver 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.\nFinancial Highlights\n \nSignificant improvement on all fronts:\n \n· Revenue on continuing operations up 15% to £60.2m (2016: £52.4m)\n· A significant transformation of the business from loss in 2016 to profit in 2017\n· Underlying* operating profit of £2.7m (2016: loss £0.2m) \n· Underlying* profit before taxation of £2.5m (2016: loss £0.4m) and reported profit for the year of £0.3m (2016: loss £5.2m)\n· Successful equity raise and refinancing in February 2017\n· Net borrowings** £0.2m at September and falling (2016: £9.9m)\n* Underlying figures are stated before the share-based payment costs, exceptional items and amortisation of intangible assets \n**Net (borrowings) / cash consists of cash and cash equivalents, bank loans and finance leases \n \n \nOperational Highlights\n \n· Group Board changes:\no Mark Wheeler, Global COO, appointed to Group Board\no Dave Webster stepped down as NED, replaced by John Horgan\no Peter Collini joined as NED\no Colin Davies resigned as NED after many years' service\no David Kilgour's appointment as CFO effective today, succeeding Hugh Cawley who stands down\n· Strategy refreshed and clearly articulated, focusing on the Group's expertise: Claims and Dispute Resolution and Expert Witness Support Services\n· Following the disposals of Driver Trett South Africa (pty) Ltd and initiate Consulting Ltd ('Initiate'), Group now comprises core businesses only\n· Continuing progress on developing the global Diales brand\n· Europe & Americas ('EuAm')\no Excellent performance across the whole of the UK market\no Netherlands and Germany another strong year\n· ...