Ricardo PLC Trading Update (8469V)
November 08 2017 - 1:00AM
UK Regulatory
TIDMRCDO
RNS Number : 8469V
Ricardo PLC
08 November 2017
8 November 2017
Ricardo plc
Trading Update
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 providing an update on order intake in the
first quarter of the new financial year. In the period 1 July 2017
to 30 September 2017 order intake was strong at GBP106m which is
GBP33m higher than the same period last year. The order intake
includes GBP6m in respect of the Control Point acquisition, which
was completed on 8 September 2017.
Significant orders in the period include two large multi-year
Chinese customer programs in respect of the engineering of an
electric vehicle and the transmission for a hybrid vehicle. In
addition, EMEA Automotive has secured an order for road trials for
a commercial vehicle platooning project in the UK. Overall, 25% of
the total order intake in the quarter ended 30 September 2017 was
in respect of electric or hybrid vehicles which compares to 17% for
the year to 30 June 2017.
The order book was GBP269m at the end of September, including
GBP9m in respect of the Control Point acquisition, which compares
to an order book of GBP231m at the same time last year. The order
book contains an increased number of longer term projects compared
to the prior year which provides increased visibility over the
medium term.
Dave Shemmans, Chief Executive Officer, commented:
"We are very pleased with the start to the new financial year
with the strong order intake reflecting both organic growth and a
good contribution from our recent acquisition of Control Point. We
have seen a good spread of orders across our Technical Consulting
business and our Performance Products business and the proportion
of orders in respect of electric and hybrid vehicles continues to
increase. We look forward to continued progress in the rest of the
year."
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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