Interim results for the six months ended 31 December 2013
(1) Excluding specific adjusting items, which comprise amortisation of acquired intangible assets and acquisition costs (see note 6).(2) Excluding Ricardo-AEA 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: “Ricardo has continued to secure good levels of new business, with the period end order book at a record level of £143m, well diversified across geographies and market sectors. We have increasing levels of business from Asia and Europe and the market sectors of rail, motorcycles and power generation continue to expand.
“A highlight of the period was the conclusion of the landmark engine supply agreement with McLaren Automotive. The long-term nature of this agreement underscores the effectiveness of our working relationship with McLaren and provides an exciting opportunity to deliver innovative new products. In addition, it is pleasing to note that Ricardo-AEA, which was acquired in the previous financial year, has now been fully integrated and is performing well.
“With the record order book well balanced across both Technical Consulting and Performance Products and an encouraging order pipeline, we remain confident of further progress in the future.”
End of summary
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