Middle East helps boost Driver Group
Construction consultancy Driver Group said a jump in Middle East revenues had helped catapult it back into profit in the first half.
Construction consultancy Driver Group said a jump in Middle East revenues had helped catapult it back into profit in the first half.
The firm reported pre-tax profits of £731,000, up from a loss of £140,000 the previous year.
Revenue increased by 35% to £10.6m compared with £7.9m for the same period in 2011.
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 principal increase in revenue was in the Middle East where revenue grew by 48% to £2.9m, outperforming expectations.
The company will pay an interim dividend for 2012 of 0.3p per share, after not paying anything the year before.
"In respect of the current financial year our secured revenues and revenue expected to be secured and delivered in the remainder of the year, give the board a high level of confidence in the outlook for this financial year," said Chairman Alan McClue.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Defeat into victory: the key to Simon Wolfson's successOpinion Next CEO Simon Wolfson claims he owes his success to a book on military strategy in World War II. What lessons does it hold, and how did he apply them to Next?
-
Aircraft leasing companies can lift investors' portfoliosThe aircraft leasing business is a safer way to cash in on air travel and its booming demand. David Prosser explains how it works and how to access it
