10th Nov 2006 07:00
Ricardo PLC10 November 2006 10 November 2006 Ricardo plc 2006 AGM Statement 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. Progress in the UK has been good and Germany hascontinued its profit recovery, whilst trading was slow in both North America andStrategic Consulting and this will constrain the growth in the first halfresults. The Group's order book at the end of the first quarter was 9% higher than it wasat the same time a year ago, with a strong pipeline of opportunities. Our strategy of increasing focus on the Far East continues to drive growth inthat region, albeit with some increase in working capital requirements. Wecontinue to believe that this is the right strategy for Ricardo, providing worldclass services globally with a unified team and culture, and as a board weremain confident of further progress in the current financial year. Further enquiries: Ricardo plcDave Shemmans, CEO Tel: 01273 455611Paula Bell, Finance Director Tel: 01273 455611Website: www.ricardo.com Gavin Anderson & CompanyFergus Wylie/Daniel Hunter Tel: 020 7554 1400 Notes to Editors: Ricardo is a leading global provider of technology, engineering solutions andstrategic consulting to the world's automotive industries. It is headquarteredin the UK, with international offices in the US, Europe and Asia. It is listedon the London Stock Exchange ("RCDO.L"). The Group combines business, product and process strategy with fundamentaltechnical research and the implementation of large-scale new product developmentprogrammes to help its clients with business strategy and restructuring, processre-engineering, vehicle, electronics & software, engine, transmission anddriveline design, as well as more traditional engineering, testing and systemsintegration. Ricardo serves a wide and balanced customer base represented by the leadingglobal automakers, vehicle component and system manufacturers, and automotiveregulatory agencies. It also serves other sectors such as motorcycle, heavy-dutytruck, off-road and military vehicles, marine and locomotive propulsion systemmanufacturers, as well as leading teams in all forms of motorsport. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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