"drive profits" is correct and can be used in written English.
You can use it to refer to an action or strategy that increases profits. For example, "Our team is focused on ways to drive profits this quarter."
The resulting competition would then drive profits down.
A cost-cutting programme has helped drive profits.
"So they can't turn data into insights into actions that drive profits.
Analysts expect those businesses to drive profits and support some of the weaker newspapers.
Myriad electronic-trading systems, which bypass investment banks, will drive profits down further.
But trades such as consultancy and finance rely on big transactions to drive profits.
Second, most firms were medium-sized and relied on a single commodity to drive profits.
The energy market needs more competition to drive profits and prices down, he says.
The initiative helped drive profits up 66% to €867m (£614 million) in the year to the end of March.
It could also drive profits by advertising daily deals and shopping specials on a tablet, observes GigaOm's Kevin Tofel.
But many businesses are only now beginning to experiment with social norms as a tool to drive profits.
