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EPIC DRV
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Driver Group – trading update, restructuring for “renewed focus” or not?...

Previously writing on “global professional services consultancy to the construction and engineering industries, providing multi-disciplinary consultancy services including expert witness, claims and dispute resolution services” Driver Group (DRV), in June with the shares at 52.5p I was cautious including as the company noted “expectation that COVID-19 will in the near future impact customer behaviours and therefore activity levels, perhaps materially so”. Today a trading update and the shares currently more than 11% higher in response… though that to 49.5p...

EPIC DRV
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Driver Group – CEO leaves “by mutual agreement”… why so abruptly then?

“Driver Group plc (DRV), the global professional services consultancy to the construction and engineering industries, today announces that its Group Chief Executive Officer, Gordon Wilkinson, has left the Company with effect from 31 May 2020 by mutual agreement and with the good wishes of the Board and senior executive team.” Hmmm...

EPIC DRV
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Driver Group – a great opportunity for the directors to materially buy shares in what they state is “a leading global player”? Er…

Writing on professional services consultancy to the construction and engineering industries, Driver Group (DRV) on Monday it was from “transformative turnaround” to profit warning… in 3 months! – and the shares closed at 52p, having been above 70p last week (though with a noticeable fall on the Friday – hmmm!) and above 80p in December. There’s now since followed three “Director dealing” announcements…

EPIC DRV
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Driver Group – from “transformative turnaround” to profit warning… in 3 months!

December-announced results from professional services consultancy to the construction and engineering industries, Driver Group (DRV) emphasised “significant improvement on all fronts… Awarded Large Company Turnaround of the Year at the national 2018 Institute for Turnaround Awards… The transformative turnaround in Driver Group's fortunes reflects a job carefully judged and executed” and a “positive start to the new financial year”. But pride comes before a fall…

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