Driver’s FY17 results confirm the significant turnaround of the Group over the past 12 months. Revenue from continuing operations increased by 15% to £60.2m. Compared to last year’s loss making position (£0.4m LBT), Driver has reported underlying PBT of £2.5m, slightly ahead of our forecast (£2.4m). Cash generation has been a priority under the new management team, translating into negligible net debt at the year end (£0.2m and falling), compared to £9.9m (and rising) at the last year end. Drive ....
