Ricardo plc is a global world-class, multi-industry consultancy for engineering, technology, product innovation and strategy. We employ over 1,700 professional consultants, engineers, scientists and support staff world-wide. Our client list includes the world’s major transportation Original Equipment Manufacturers (OEM’S), supply chain organisations, energy companies, financial institutions and governments.
- A solid operating performance
- Revenue £197.4m (June 2011: £196.5m)
- Profit before tax increased by 14% to £17.6m (June 2011: £15.4m)
- Basic earnings per share 29.3p, tax 14% (June 2011: 30.0p, tax nil)
- Net cash of £7.9m (June 2011: £1.5m)
- Full year dividend up 8% to 12.4p per share (June 2011: 11.5p)
- Strong order book maintained at £107m (June 2011: £107m)
- Strategic partnerships yielding multi-year visibility
- Outlook remains positive, strong platform for further growth
Ricardo has again delivered a solid result against an uncertain economic backdrop, with order inflows from multiple geographies and business segments. Repeat business has been in the form of high quality core multi-year automotive, commercial and off-highway vehicle programmes across both engineering and assembly. Ricardo has also won additional business from new sectors including rail and clean energy.
A strong performance within the UK business both for Technical Consulting and Performance Products (with high levels of delivery for Foxhound and McLaren engines) has been offset by weaker situations within the US and Germany businesses. A robust balance sheet has been maintained with another year of strong cash inflow.
Commenting on the results, Dave Shemmans, Chief Executive Officer said:
“With profit before tax up 14%, a strong order book and a robust balance sheet, the platform for the future of the business remains very healthy. There is a good balance in both our product and service portfolio and our customer base, which provides for risk mitigation as well as offering continued growth potential.
Our work in leading-edge emissions control and fuel efficiency continues to be in high demand as global industries face ever tightening legislation and toughening demands for increased fuel efficiency. Despite an unpredictable world economy, we remain confident for the future. Our continued investment in the very best of talent and technology, a robust flexible model and a strong business offering of in-demand solutions to an increasing client base provides a good forward business platform.”
End of summary
A full version of the statement issued today by Ricardo plc can be downloaded from the link at the top right of this page.
Dave Shemmans, Chief Executive Officer
Paula Bell, Group Finance Director
Tel: 01273 455611
Kreab Gavin Anderson
Tel: 020 7074 1800