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.

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.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues 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

Sign up

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.