LONDON (dpa-AFX) - Ricardo plc (RCDO.L) Thursday announced that in the year to June 30, order intake has been good at over 360 million pounds 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 240 million pounds compared to 231 million pounds at the same time last year.
At the end of June, net debt was 38 million pounds.
The company will announce the results for the year on September 14.
Dave Shemmans, Chief Executive Officer, said, '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.'
The company noted that 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.
Performance Products business continues to perform well with continued growth in McLaren volumes.
'We look forward to further progress in the year ahead,' Shemmans said.
Ricardo is hosting today an event for investors at its Shoreham Technical Centre focusing on developments in the Rail, Energy and Environment and Automotive sectors.
Copyright RTT News/dpa-AFX
© 2017 AFX News
