Ricardo PLC Trading Update & Notice of Capital Markets Event (2578K)
July 06 2017 - 2:00AM
UK Regulatory
TIDMRCDO
RNS Number : 2578K
Ricardo PLC
06 July 2017
6 July 2017
Ricardo plc
Trading Update & Notice of Capital Markets Event
Ricardo plc ("Ricardo") is a global engineering and strategic,
technical and environmental consultancy business with a value chain
that includes the niche manufacture and assembly of
high-performance products. We employ over 2,900 professional
engineers, consultants, scientists and support staff to deliver
class-leading and innovative products and services for the benefit
of our customers, which include the world's major transportation
original equipment manufacturers and operators, supply chain
organisations, energy companies, financial institutions and
government agencies.
Ricardo is today hosting an event for investors at its Shoreham
Technical Centre focusing on developments in the Rail, Energy and
Environment and Automotive sectors. The company is now in a close
period as it prepares the financial results for the year ended 30
June 2017 and therefore no financial data will be provided at the
investor event. The results for the year will be announced on 14
September 2017.
In the year to 30 June 2017 order intake has been good at over
GBP360m and slightly ahead of the prior year. Excluding the large
multi-year transmission supply contract awarded in June 2016 order
intake is significantly up on the prior year. The closing order
book at the end of June is expected to be in excess of GBP240m
compared to GBP231m at the same time last year.
At the end of June our net debt was GBP38m.
Dave Shemmans, Chief Executive Officer, commented:
"We look forward to welcoming investors to our Shoreham
Technical Centre today to discuss how we are helping our clients
meet the global challenges of urbanisation, electrification of
transport, climate change and the management of scarce
resources.
This week we enter our new financial year with a strong order
book and a very good pipeline of opportunities across our business.
Our Rail and Energy and Environment businesses continue to perform
strongly demonstrating the benefits of strategic diversification.
Our automotive business has had a disruptive year given the wider
macro economic factors but enters the new year with good momentum
in the final quarter and a good order book and pipeline. Our
Performance Products business continues to perform well with
continued growth in McLaren volumes and I am particularly pleased
with the recent contract to supply advanced transmissions to Aston
Martin that was announced in June.
We look forward to further progress in the year ahead."
Further enquiries:
Ricardo plc
Dave Shemmans, Chief Executive
Officer Tel: 01273 455611
Ian Gibson, Chief Financial
Officer
Website: www.ricardo.com
Newgate Communications Tel: 020 7653 9842
Adam Lloyd, Zoe Pocock,
Ed Treadwell
This information is provided by RNS
The company news service from the London Stock Exchange
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