Described as a global construction consultancy group, their services include the speedy resolution of issues causing delays and holdups in getting projects underway, and the resolution of disputes.

Company website: www.driver-group.com

Confident News yesterday from Malaysia, where the company already has 10 projects under way and evidently expects significantly more.

Profit warning.

Yep. It's bad enough when a company reports a delay in a contract - but here they refer to contract delays plural. On top of which they mention contract cancellations. Again, one would be bad enough but here they say cancellations plural.

Not a good advert for a company that offers services designed to resolve delays!

StockMarketWire.com
Driver Group's trading in the second half has seen revenues at record levels with organic growth of 20% and the addition of a full six months of revenue from Initiate Consulting, which was acquired in December 2014.

Underlying operating profits for the year ended 30 September are in line with market expectations, but will be impacted by approximately £0.45m due to well-publicised problems at the Redcar plant of Sahaviriya Steel Industries UK (SSI UK) which culminated in the announcement on 2 October that SSI UK had been placed in liquidation and adverse FX movements.

Driver's UK business had a small team engaged by SSI UK and in early September all the group's consultants were disengaged. Driver says there is no adverse impact on its operations going forward, but its UK business has receivables due from SSI UK of approximately £0.2 million which will be provided for in full in in the year ended 30 September 2015.

Driver says that in the second half of the year its AMEA business has been unusually impacted by adverse FX movements of approximately £0.25 million due to the strong pound against the Middle East and South Africa currencies. Management forecasts are provided 'FX neutral' as currency movements cannot be accurately predicted over any meaningful period and the group's natural and commercial hedges through the year usually cancel out any material risk. Driver says: "Looking ahead to 2015-16, given the revenue growth and profits in H2 of 2014-15, the strong performance in Q4 and the opportunities developing in our pipeline we are confident of maintaining double digit revenue growth and in meeting market forecasts for 2015-16."