Driver Group warns of flat profits

DISPUTE resolution provider Driver Group said today that full year profit will remain flat amid tough conditions in the construction industry.

The Rossendale-based group said results from its northern business have been hit by the reduction in commercial building activity , while in London it has secured fewer larger litigation contracts than had been previously projected.

Also a major litigation contract in Oman has settled significantly ahead of schedule which, according to Driver, will adversely affect the level of income originally anticipated from the region in the second half.

Driver has also seen profits impacted by continuing rise in Sterling against the group’s major trading currencies, United Arab Emirates Dirhams and Omani Riyals.

In a statement the group said: “Despite these short term challenges, the board continues to see opportunities to grow the business significantly over the longer term, particularly in the Middle East, London and the wider international market.”