Hobson: Some Good Investing News for Once

THE WEEK: Morningstar columnist Rodney Hobson hails some upbeat developments from construction consultancy Driver and infrastructure group Balfour Beatty

Rodney Hobson 14 December, 2018 | 2:32PM

Stocks and Bond Charts

In these troubled times it’s good to see a happy turn of events, so well done construction and engineering consultancy Driver (DRV) rolling up just in time for Christmas. Driver reported underlying pre-tax profit up 54% from £2.5 million to £3.8 million in the year to 30 September on revenue up just 4%.

Not having to stand a £1.1 million cost of restructuring, as happened last year, helped further. That restructuring certainly seems to be working well, allowing chief executive Gordon Wilkinson to chirrup: “The transformative turnaround in Driver Group's fortunes reflects a job carefully judged and executed.”

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Balfour Beatty PLC268.60 GBX0.30
Dixons Carphone PLC89.45 GBX0.73
Driver Group PLC65.25 GBX13.48

About Author

Rodney Hobson

Rodney Hobson  is a columnist for Morningstar.co.uk and author of several investing books, including The Dividend Investor and How to Build a Share Portfolio.

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