10th Sep 2015 06:53
LONDON (Alliance News) - Ricardo PLC on Thursday said its pretax profit was marginally lower in the year to the end of June, primarily due to one-off administrative costs, but its underlying profit was higher thanks to better revenue and it said it will raise its total dividend payout.
The engineering, technical and environmental consultancy said its pretax profit for the year to June 30 was GBP22.9 million, down from the GBP23.5 million it posted a year earlier, due to it booking GBP3.9 million in one-off costs for amortisation and acquisition-related expenses. Stripping out exceptional items, the company's pretax profit up to GBP26.8 million from GBP24.6 million.
Revenue rose by 9% in the year to GBP258.0 million from GBP236.0 million, while its year-end order book was GBP140.0 million, slightly down from the GBP142.0 million it had on its books a year earlier. Order intake for the year was down to GBP252.0 million from GBP259.0 million.
The company said it will pay a final dividend of 11.95 pence per share, up from 10.9p a year earlier, meaning its total dividend is up to 16.6p from 15.2p.
Ricardo said its market conditions looks positive in both the UK and Asia, while it has a good pipeline of defence work in the US and recently secured some key wins in Germany. It said it enters the year with a robust order book and good pipeline and expects to make further progress.
By Sam Unsted; [email protected]; @SamUAtAlliance
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