skip to content

Trading statements

RCDO says profit tracking in line with FY views

19 May 2016 07:35

Ricardo Plc said in the ten months to end-April it has seen good revenue growth, and profit for the group is tracking in line with its FY expectations.

It said revenue in the ten months to end-April was 32% higher than the same period last year and on a like-for-like basis, excluding the acquisitions of Lloyds Register Rail ('LR Rail') and Cascade, it was up 9% compared to the prior year.

"Our Technical Consulting business is continuing to perform well. Within this segment, our European business is showing good growth following the integration of our operations in the UK and Germany in the prior year; our Rail business and Energy & Environment business both continue to perform well, and we continue to win a good level of work in Asia," the company said.

"In the US, as previously indicated, trading continues to be difficult with reduced levels of work in Detroit and Chicago partially offset by increasing work in California.

"In our Performance Products segment we now expect profits in the second half of the year to be lower than the same period last year as increased volumes in respect of the new engine supply contract for McLaren are expected to be more than offset by lower one-off software license sales and a reduced level of high performance and monorail transmissions in the period.

"Order intake in the ten months to the end of April was £278m, which is £62m higher than the same period last year. On a like-for-like basis, excluding the acquisitions of LR Rail and Cascade, order intake is £11m higher than the prior year. The total order book at the end of April was £207m compared to £152m at the same time last year.

"The Group continues to maintain a robust balance sheet. As seen in the first half of the year we continue to invest in working capital as our revenues expand in Asia and the Middle East, our Energy & Environment business transitions towards more private sector and international work and we invest in our major long-term assembly program."

Story provided by StockMarketWire.com

Related Company: RCDO

Info Point:

To buy or sell shares call our Dealing Room on 0113 243 6941.

Too much jargon? Our glossary will help make sense of things.

Find out more about our Share Dealing Services.

Client Area Access

» Secure Login

» Not registered yet?

Bluezest Aviva Aberdeen

Branch Finder

Redmayne-Bentley have High Street branches throughout the UK. Find your nearest branch.