10th Sep 2020 11:05
(Alliance News) - Ricardo PLC on Thursday said it swung to loss in its most recently ended financial year but is set for growth going forward.
The environmental consulting services company reported order intake for the year to the end of June of GBP368.7 million, down 4% when compared to the prior year's GBP386.0 million. On an organic basis, it fell by 10%.
Revenue, meanwhile, was 8% lower, or 12% lower organically, at GBP352.0 million versus GBP384.4 million a year prior. The company swung to a pretax loss of GBP5.3 million after reporting a GBP26.5 million profit the year before.
Ricardo said its order book was GBP314.0 million as at June 30, unchanged year-on-year.
"We enter the new financial year with a good order book and we secured over GBP70 million of new orders in July and August. We have an agile business that has proven its resilience in a highly uncertain environment," said Chief Executive Dave Shemmans.
Ricardo's dividend for the year totalled 6.24 pence a share compared to 21.28p paid the year before.
Shemmans added: "We continue to see good opportunities for Ricardo in the markets that we serve, and through the execution of our strategy we are well positioned to continue to grow our group as a sustainable business that delivers value for all of our stakeholders."
Ricardo shares were trading 0.6% lower in London on Thursday at 346.00 pence each.
By Evelina Grecenko; [email protected]
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