Construction consultancy on track for £3m profit

A Lancashire based construction consultancy says it performed well in the second half of the year.

Rossendale based Driver Group said it has performed well during the second half of 2018/19 and, as a result, expects to report underlying profit before tax for the financial year of approximately £3m.

The company incurred one-off costs amounting to £400,000 as part of a rationalisation of its cost base.

The firm saw a strong performance in the UK and Europe offsetting a weaker result in the Middle East and Asia Pacific regions.

Period-end net cash balances were approximately £5m after funding dividend and share buyback payments during the year.

The company said it continues to perform well across markets, regions and sectors with the new business enquiry pipeline at a healthy level.