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Driver annual profit falls on pandemic-led slowdown in Middle East, Asia Pacific
StockMarketWire.com
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Construction and engineering services consultancy Driver reported that annual profit fell sharply following a pandemic-led slowdown in activity levels in the Middle East and Asia Pacific regions.
Fore the yar ended 31 October, pre-tax profit fell to £1.74 million from £3.25 million year-on-year as revenue slipped to £53.1 million from £58.5 million.
The company also absorbed the impact of the severance cost for its outgoing chief executive officer of £0.8m.
The company declared a dividend of 0.75 pence per share, in line with last year.
'Activity levels in the early weeks of the new financial year are encouraging and with a strong net cash position and the availability of increased debt facilities, we believe that the group is well positioned for the coming year,' the company said.
At 9:39am: (LON:DRV) Driver Group PLC share price was 0p at 52.5p
Story provided by StockMarketWire.com
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