News Column

Ricardo Full-Year Profit To Be In Line With Revenue Slightly Ahead

July 17, 2014

Anthony Tshibangu

LONDON (Alliance News) - Engineering and environmental consultancy Ricardo PLC Thursday said profit for the full year to June 30 will be in line with market expectations, while revenue will be slightly above the prior year.

Ricardo said customer activity in the past two months has been positive, leading to a record year-end order book and a good pipeline across different business segments.

The company said it has continued to perform well, particularly in Asia, with orders being signed in both China and Japan in the final quarter.

West Sussex-based Ricardo said its balance sheet remains "strong" with further cash generation in the period leading to a cash balance slightly ahead of expectations.

"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," Chief Executive Dave Shemmans said in a statement.

Ricardo shares were quoted up 1.2% at 646.50 pence Thursday morning.

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Source: Alliance News

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