Business
Interim Report: Half-year ended 31 March 2022
Interim Report: Half-year ended 31 March 2022.
About this update from Diales Group Plc
[{"type":"text","content":"\n \n \n 14 June 2022\n \n \n \n \n \n \n \n \n DRIVER GROUP PLC\n \n \n \n \n \n \n \n \n \n (\"Driver\" or \"the Group\")\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Interim Report\n \n \n \n \n For the six months ended 31 March 2022\n \n \n \n \n \n \n \n Key Points (for the six months ended 31 March 2022)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 6 months\nended\n31 March\n2022\n \n \n \n \n £000\nUnaudited\n \n \n \n \n \n \n 6 months\nended\n31 March\n2021\n£000\nUnaudited\n \n \n \n \n \n \n Change\n£000\n \n \n \n \n \n \n \n Revenue\n \n \n \n \n 24,429\n \n \n \n \n 24,957\n \n \n \n \n (528)\n \n \n \n \n \n \n Gross Profit\n \n \n \n \n 5,882\n \n \n \n \n 6,397\n \n \n \n \n (515)\n \n \n \n \n \n \n \n Gross Profit %\n \n \n \n \n \n 24%\n \n \n \n \n 26%\n \n \n \n \n (2%)\n \n \n \n \n \n \n Profit before tax\n \n \n \n \n 130\n \n \n \n \n 855\n \n \n \n \n (725)\n \n \n \n \n \n \n Add: Share-based payment charge\n \n \n \n \n 272\n \n \n \n \n 158\n \n \n \n \n 114\n \n \n \n \n \n \n Underlying* profit before tax\n \n \n \n \n 402\n \n \n \n \n 1,013\n \n \n \n \n (611)\n \n \n \n \n \n \n \n Underlying* profit before tax %\n \n \n \n \n \n 2%\n \n \n \n \n 4%\n \n \n \n \n (2%)\n \n \n \n \n \n \n Underlying* earnings per share\n \n \n \n \n 0.2p\n \n \n \n \n 1.4p\n \n \n \n \n (1.2p)\n \n \n \n \n \n \n Net cash**\n \n \n \n \n 3,678\n \n \n \n \n 7,222\n \n \n \n \n (3,544)\n \n \n \n \n \n \n \n \n \n \n \n \n ·\n Underlying* profit before tax at £0.4m (2021: £1.0m) resulting in an underlying* profit before tax margin of 2% (2021: 4%).\n \n \n ·\n Profit before tax at £0.1m (2021: £0.9m).\n \n \n ·\n Net cash** decrease year on year of £3.5m to £3.7m (2021: £7.2m).\n \n \n ·\n Revenue down by 2% to £24.4m (2021: £25.0m) which is attributable to Middle East and Asia Pacific regions.\n \n \n ·\n Gross profit at 24%, a £0.5m decrease to £5.9m (2021: £6.4m).\n \n \n ·\n Fee earner headcount decreased by 7 to 294 with an increase in EuAm offset by decreases in both APAC and Middle East.\n \n \n ·\n Overall utilisation rates*** of 69.6% (2021: 72.1%).\n \n \n ·\n Europe & Americas (EuAm) reported underlying\n *\n profit before tax for the period of £2.4m (2021: £2.5m) with utilisation rates*** at 72.7% (2021: 71.6%).\n \n \n ·\n Middle East (ME)...