Ricardo plc is a global, world-class, multi-industry consultancy for engineering, technology, innovation, strategy and environment. We employ 2,100 professional consultants, engineers, scientists and support staff worldwide. Our client list includes the world’s major transportation Original Equipment Manufacturers (OEMs), supply chain organisations, energy companies and governments.
- A record operating performance
- Organic (excluding AEA) profit before tax up 15% to £20.2m (June 2012: £17.6m)
- Underlying* profit before tax up 31% to £23.0m (June 2012: £17.6m)Underlying* basic earnings per share up 22% to 35.8p (June 2012: 29.3p)
- Net funds of £6.1m (June 2012: £7.9m) after funding £18.0m AEA acquisition
- Full year dividend up 13% to 14.0p per share (June 2012: 12.4p)
- Continuing to build an innovative Group well-placed to deliver long-term growth
- Strategic partnerships yielding multi-year visibility
- Outlook remains positive, strong platform for further growth
[* excluding specific adjusting items, which comprise amortisation of acquired intangible assets and acquisition costs]
Commenting on the results, Dave Shemmans, Chief Executive Officer said:
“This year we have delivered record financial results, strong cash generation and exceptional projects to our clients. We are starting 2014 with a solid order book, good order intake in the first two months and a growing pipeline which includes significant opportunities in the passenger car market. With Ricardo-AEA we are demonstrating that carefully targeted acquisitions can significantly accelerate the achievement of our strategic objectives.
"We have continued to make good progress both strategically and operationally in building an innovative and agile Group which is well placed to deliver exceptional projects for clients. Our results demonstrate the benefit of our growth and risk mitigation strategy. We anticipate further progress in 2014 as the Group has a strong balance sheet and a range of opportunities open to it as a diverse Technical Consulting and Performance Products business.”
End of summary
A full version of the statement issued today by Ricardo plc, together with a full copy of the supporting presentation, can be downloaded from the links at the top right of this page.
Dave Shemmans, Chief Executive Officer
Ian Gibson, Chief Financial Officer
Tel: 01273 455611
Newgate Communications LLP
Fergus Wylie/Madeleine Palmstierna
Tel: 020 7680 6550