Ricardo : preliminary results for the full year ended 30 June 2014
September 11, 2014 at 02:38 am EDT
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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
Ricardo plc is a global strategic, environmental, and engineering consulting company. The Company operates through five segments: Energy and Environment (EE), Rail, Automotive and Industrial (A&I), Defense, and Performance Products (PP). The EE segment is engaged in the provision of environmental consultancy services to customers across the world. The Rail segment is a consultancy unit that provides technical advice and engineering services; and performs accredited assurance services. The A&I segment is engaged in the provision of engineering, strategic consulting, and design, development, and testing services, focused on hybrid and electric systems, electrification, engines, driveline and transmissions, testing, and vehicle engineering. The Defense segment provides engineering services, software, and products to customers in the United States defense market. The PP segment manufactures, assembles, and develops niche components, prototypes, and complex products.
RICARDO PLC 
