4th Nov 2005 11:00
Ricardo PLC04 November 2005 4 November 2005 Ricardo plc AGM Statement Ricardo plc is a leading UK independent automotive consultancy, employing nearly1800 people with technical centres in the UK, USA, Germany and the CzechRepublic. The company's client list includes the world's major OEMs. Ricardo isa constituent of the FTSE techMark 100. Ricardo plc is holding its Annual General Meeting today at which the Chairman,Marcus Beresford, will make the following comments: Overall, trading in the first quarter of the new financial year has been in linewith our expectations and our view on the outlook remains in line with thatexpressed at the time of our preliminary results in September, when we expectedto see a steadily improving performance for the current financial year. Our research and development work continues to be focused on reductions inexhaust emissions, cost effective fuel economy and the developments in newpowertrain solutions, particularly in hybrids. This positions us well for thechallenges of today's world. Our improved geographical balance and wider spread of global customers gives usgreater confidence in our ability to benefit from the growth in developingmarkets and to weather the stagnation in some of the mature markets. Ricardo'sexpertise is respected throughout the world and I am confident that this willremain so. Despite some weakness in Europe, overall our order prospects are improvedcompared to this time last year and at the end of September our order book wasup year on year. In line with previous years, we expect to give a clearer updateon order visibility at the time of our interims in February 2006, as the OEMstraditionally release their new budgets in the first quarter of the calendaryear. In conclusion, the Board is confident of further steady progress for the comingyear. Enquiries: Ricardo plc Tel: 01273 455611Dave Shemmans, Chief ExecutiveAndrew Goodburn, Finance Directorwww.ricardo.com Gavin Anderson & Company Tel: 020 7554 1400Fergus Wylie / Robert Speed This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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