Trading Update

RNS Number : 5453M

Ricardo PLC

17 July 2014

 



17 July 2014

Ricardo plc

Trading Update

Ricardo plc ('Ricardo' or 'the Group') is a global, multi-industry engineering and environmental consultancy, providing a value chain from strategy to engineering through to niche production. Our client list includes the world's major transportation Original Equipment Manufacturers (OEMs), supply chain organisations, energy companies, financial institutions and governments.

Ricardo plc is today providing a trading update for the period ended 30 June 2014. Ricardo will announce its full year results for the twelve month period ended 30 June 2014 on 11 September 2014.

Overall customer activity in the last two months has been positive, leading to a record year end order book and a good pipeline across multiple geographies and different business segments. Asia, in particular, has continued to perform well with orders being signed in both China and Japan in the final quarter, with further opportunities in the latter stages of negotiation.

We expect profit performance to be in line with market expectations and total Group revenue for the full financial year to be slightly above the prior year, as indicated in our Interim Management Statement issued in May.

The balance sheet remains strong with further cash generation in the period leading to a cash balance slightly ahead of expectations. In addition, bank facilities continue to be available to support further investment.

Dave Shemmans CEO commented:

"We have ended the year with a strong order intake in the final quarter, leading to a record order book as we enter the new financial year. Market conditions remain strong in the UK and Asia and are improving in the US, however Germany remains challenging. The strong order book and pipeline, together with the large long-term assembly contracts secured in the year, provide confidence in the further development of the business."

Further enquiries:

Ricardo plc
Dave Shemmans, Chief Executive	Tel:	01273 455611
Ian Gibson, Chief Financial Officer
Website: www.ricardo.com
Newgate Communications
Fergus Wylie Madeleine Palmstierna	Tel:	020 7680 6550

 

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