Ricardo hikes dividend 10% on swinging to annual profit

Wed, 15th Sep 2021

Engineering group Ricardo hiked its dividend 10% after an improvement in margins helped it swing to a full-year profit. Pre-tax profit for the year through June amounted to £3.9 million, compared to year-on-year losses of £5.3 million. Revenue edged back 0.1% to £351.8 million. The company's operating profit margin rose 0.8 percentage points to 6.5%, helping underlying pre-tax profit rise 15% to £18.0 million. Ricardo declared full-year dividends of 6.86p per share, up from 6.24p year-on-year. 'Over the last eight years we have significantly diversified our portfolio and, by so doing, Ricardo is now positioned as a world-class environmental, engineering and strategic consultancy offering expertise that is supporting global green agendas,' chief executive Dave Shemmans said. 'Although we remain in an uncertain world, the resilience of our operating model and the focused delivery of our strategic priorities has ensured that we have steered back onto a course that will guide our business to a position of strength.' Story provided by StockMarketWire.com

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