(WebFG News) - Construction and engineering professional services consultancy Driver Group has entered into an agreement with Jetglobal for the sale of the freehold property interest in the group's central administration offices located in Haslingden, Lancashire, and the immediate leaseback of those premises, it announced on Monday.
Driver Group's shares jumped 14.5% on Friday morning after the company reported stronger growth in the first four monyths of its financial year than it had been expecting.
Driver Group said it expected underlying pre-tax profit will be ahead of its previous expectations as the construction and engineering services consultancy enjoyed a stronger trading performance during the second half of the year to September.
AIM-listed Driver Group announced the disposal of its South African subsidiary, Driver Trett South Africa Pty Ltd, to DTSA's local management team.
Specialist commercial and dispute resolution services provider to the construction and engineering industries, Driver Group, updated the market on its half year to 31 March on Friday.
Driver Group's revenue for the 2016 financial year revenue increased but the company swung to a loss as it implemented a recovery plan.
Global professional services consultancy in the construction and engineering industries, Driver Group, updated the market on its trading performance during the second half of the financial year to 30 September on Wednesday.
Driver Group has appointed Charles Laurence Cawley as its new group finance director.
Driver Group's chief executive Dave Webster has stepped down from the role after five years, as the company admitted revenue visibility was limited and the UK had endured a slow start to the year.
The income rolled in at Driver Group in 2015, but significant investment in the business put paid to profits in its preliminary results to 30 September, announced on Tuesday.
Driver said on Thursday that its chief executive David Webster purchased 50,000 shares in the construction consultancy at 55p each, spending a total of £27,500.
Construction consultancy Driver Group posted a £2.1 loss before tax for the first half of this year, compared with £1.3m profit in 2014 as a result of its operations in Africa, Asia and the Middle East.
Driver Group chairman Alan McClue, warned that the construction and engineering consultancy will fall short of its annual expectations because of contract delays and cancellations.
A round-up of the biggest director deals today so far.