A COMMERCIAL dispute specialist has recorded record results despite seeing an overall fall in profits.

Driver Group, reported a 14 per cent increase in underlying operating profits of £1.68million for the year ending September 30 compared to £1.47million for the same period last year.

However, after the firm incurred exceptional costs of nearly £485,000 for settling pension liabilities and exercising a share option pre-tax profits fell to £1.11million from £1.49million.Turnover for the year grew nearly 40 per cent to £12.68million.

Driver, based in St Crispin Way, Haslingden, was founded in 1978, and provides commercial and dispute resolution services to the construction industry.

Revenues for the firm's Middle Eastern operations based in United Arab Emirates also almost doubled to £1.45million.

Driver's new UK offices in London, Bristol and Edinburgh, opened in 2006 also showed growth.

Despite the fall in overall profits the company said it was positive for the year ahead and was considering a number of acquisitions.

Chairman Michael Davies said: "It has been a year of invest-ment as we focused on scaling the business for growth.

"We have clear growth objectives for the current financial year as well as developing the group organically.

"Our increased consulting resource put the group in a better position to capitalise on the good growth opportunities in the UK and internationally.

"We therefore view prospects for the business positively."

The board has recommended payment of a final share dividend for the year of 1.90pence per share.