LONDON (dpa-AFX) - Ricardo plc (RCDO.L), a strategic, environmental, and engineering consulting company, reported Thursday higher revenues and orders from continuing operations in its first half.
Looking ahead, for fiscal 2025, the company projects results to be below consensus expectation due to expected delay in orders.
On the London Stock Exchange, Ricardo shares were losing around 21.3 percent to trade at 277.00 pence.
The company still expects to see good Group organic underlying profit growth for the year, in addition to the profit from the Acquisition of E3 Advisory.
On a continuing operations basis, year to date revenue increased 1% on a reported basis, and 2% at constant currency.
Defense business is being reported as discontinued operations following its disposal.
Order intake for Ricardo's continuing operations was up 10% on a reported basis, and 11% at constant currency for the six months to December 31.
Order book was up 2% from last year.
Graham Ritchie, Chief Executive Officer, said, 'While we are seeing delays in orders resulting from short-term headwinds in some of our end markets, we are encouraged by the order intake across many of our businesses.'
The results for the half-year will be released on March 5.
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