LONDON (dpa-AFX) - Ricardo plc (RCDO.L), on Tuesday, reported that it has traded in line with the Board's expectations in the year ended 30 June 2022, and delivered a full year performance with a 'very good level of new orders and strong operating cash generation.'
Further, the company stated that FY 2021/22 saw high levels of growth with positive momentum, owing to a strong order intake at about £430 million, up over 20% on the prior year.
Ricardo noted that its order book was about £340 million, up over 15% on the prior year. Net debt at 30 June 2022 was £35 million, including the £5 million cost of the acquisition of Inside Infrastructure in March 2022, compared to £47 million at 30 June 2021.
At 30 June 2022, net debt was £35 million compared to £47 million at 30 June 2021 and £39 million at 31 December 2021.
Graham Ritchie, Chief Executive Officer, said, 'I am delighted that, over the course of the year, we have continued to deliver in line with our expectations. We have made significant progress in FY21/22, delivering a very good financial performance with increased order intake across all our business segments and a strong operating cash conversion.'
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