Driver builds international footprint
LANCASHIRE construction consultancy Driver Group said today it is still being hit by the moribund state of the sector in the UK, but has cut its debts this year and expanded effectively overseas.
In a trading update for the year ended September 30, Rossendal-based Driver reiterated the guidance it gave at the half year. that it expects to post a ‘small underlying loss’ in the second half.
Net debt in the fuill year is set to fall to £500,000, less than market expectattions of £1.2m.
While the domestic market remains weak Driver has expanded in new and existing territories, opening a company in Africa with an office in South Africa and a fourth office in the Middle East in Qatar Both new centres are up and running, and winning new business.
Looking ahead, Driver said: “Whilst the UK construction market remains more challenging than we had hoped, the directors can report that the group has been appointed a member of the commercial consultants panel for Carillion plc and is in final negotiations for a further similar appointment with another significant UK organisation.”
As well as this fillip, in the Middle East Driver has been appointed by Muscat Municipality in Oman as cost consultant on the Al Athaibah Interchange Improvements Project, a £22m highway scheme planned to run until May 2012.
The AIM listed company will report its annual results in January.
