20th May 2015 07:37
LONDON (Alliance News) - Engineering and environmental consultant Ricardo PLC on Wednesday said it has seen a good start to the second half of its financial year and said its revenue and profit are set to meet its expectations for the full year.
Ricardo said order intake in the four months to the end of April rose GBP23 million year-on-year, with its order book at the end of April at GBP152 million, against GBP141 million at the same time a year ago. The company said it has been boosted by contract wins in Asia, vehicle development projects in the UK and Europe and by an environmental consulting contract from the UK government.
Group revenue for the ten months to the end of April is up 6% year-on-year, Ricardo said, with profit in line with its expectations for the full year to the end of June.
"The strong order intake in the last four months has resulted in another record order book and I am particularly pleased with recent wins in Europe and the continued growth of our business in Asia. While the US is currently a challenging market, I am encouraged by the medium-term opportunities particularly in the defence and rail sectors," said Chief Executive Dave Shemmans.
Shares in Ricardo were down 1.8% to 894.00 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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