Driver Group has issued a positive update on its Middle East operations, in particular the UAE. It has agreed with an unnamed counterparty that 25 employees will transfer to the counterparty on 1st June, resulting in annualised cost savings of >£3m, with no associated exceptional termination costs. This compares to the £1m in cost savings identified within the 29th March update. The counterparty will also assist in collecting the associated debtor book of c.£3.5m, c.£2m of which it will pay upfr ....
