Ricardo H1 order intake up 25%

10th Jan 2011 07:43

Engine consultant Ricardo sees positive signs of recovery in the passenger car market with first half order intake up 25% from the same period a year earlier."The order book has seen strong growth and is expected to close at around £115m, compared to £99m this time last year, and with a balanced portfolio of work," the group said in a company statement. Orders received in the period saw a return to multi-year development programmes being outsourced by clients, it added. Ricardo secured key projects in the automotive market, off highway sector. Among defence vehicles, Force Protection ordered the set up and assembly of 200 vehicles, with production starting in July 2011."Within Technical Consulting, the UK division remains very busy and the German market is now seeing signs of recovery. The US division continues to grow and deliver improved returns compared to the same period in the prior year," said Ricardo.Strategic Consulting had a good start to the financial year and continues to grow while its Performance Products segment has shown solid business growth with demand largely driven by the defence sector.Looking ahead Ricardo added, "We expect business growth for the half year and remain confident for further progress for the full year. Winning multi-year engineering programmes, commencing assembly of the supercar engine, and securing the Foxhound defence programme, all underpin longer term business."