26th May 2022 12:01
(Alliance News) - Ricardo PLC on Thursday said it is line to meet the company's expectations for financial 2022, as the company sets out its five year targets.
The West Sussex-based engineering and environmental consultancy laid its out five year targets, aiming to double underlying operating profit by 2027. In the year ended June 30, this amounted to GBP8.5 million.
It also eyes an underlying operating profit margin in the "mid-teens" by financial 2027.
Further, Ricardo said it expects to keep its dividend policy of 2.5time to 3 times cover.
Shares in Ricardo were up 4.4% to 346.72 pence each in London on Thursday morning.
By Sophie Rose; [email protected]
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