Ricardo plc preliminary results for the full year ended 30 June 2014

Ricardo plc preliminary results for the full year ended 30 June 2014
10 September 2014

Ricardo plc is a global engineering and environmental consulting company, with a value chain from strategic consulting through to niche high performance product assembly. We employ over 2,000 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, financial institutions and governments.


Highlights:

  • A record year end order book up 17% to £142m (June 2013: £121m)
  • Order intake up 19% to £259m (June 2013: £218m)
  • Underlying (1) profit before tax up 8% to £24.6m (June 2013: £22.7m)
  • Organic (2) profit before tax up 3% to £23.3m (June 2013: £22.7m)
  • Underlying (1) basic earnings per share up 9% to 38.7p (June 2013: 35.4p)
  • Net funds up £6.5m to £12.6m (June 2013: £6.1m)
  • Full year dividend up 9% to 15.2p per share (June 2013: 14.0p)
  • Multi-year engine supply agreement signed with McLaren Automotive in December 2013
  • Strong balance sheet and good platform for further growth and expansion
  • Outlook remains positive as we approach our centenary year

(1) Excluding specific adjusting items, which comprise amortisation of acquired intangible assets and acquisition costs amounting to £1.1m (2013: £2.0m).
(2)  Excluding Ricardo-AEA (£1.3m) for the period up to 8 November 2013. Ricardo-AEA was acquired in the prior year on 8 November 2012.


Commenting on the results, Dave Shemmans, Chief Executive Officer said:

"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 positive in the UK and Asia, are improving in the US, and in Germany we enter the new financial year with an order book significantly up on previous years. The strong order book and pipeline across the Group, together with the large long-term assembly contracts secured in the year, provide confidence in the further development of the business.

As we approach our centenary year our order book and balance sheet provide a good platform for further growth, and we are actively looking for opportunities to expand and enhance our business."



A full version of the statement issued today by Ricardo plc can be downloaded from the links at the top right of this page.



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