Driver Group shares got a lift on Tuesday after the company increased half year revenues and almost doubled its profits in the six months ended March 31st.
Revenue at the global construction consultancy rose 74% from £10.6m to £18.5m, although this was driven largely by the acquisition of Trett in May last year. Compared to the second half of 2012, revenue rose 19%.
Pre-tax profit rose from £0.7m to £1.4m year-on-year, while earnings per share doubled from 2.3p to 4.6p.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The group declared an interim dividend of 0.5p per share (2012: 0.3p).
Alan McClue, Chairman of Driver Group, said: "Results in the period continued the positive trends seen in the second half of our last financial year and was a further period in which we achieved all of our financial objectives including growth in revenues, gross margin, utilisation levels, profits and a return to a net cash position following the funding of the Trett acquisition."
The share price rose 7.45% to 101p by 14:25 Tuesday.
NR
