Ricardo racks up record orders

11th Sep 2014 09:17

Automotive engineering and environmental consultancy Ricardo announced record orders and said its markets were improving. Ricardo, which provides consultancy services to car makers and the defence, rail, marine and environmental industries, said orders had risen 17% to £142m in the year to 30 June.Underlying pre-tax profit was 8% up at £24.6m and underlying basic earnings per share rose 9% to 38.7p. It increased its full-year dividend 9% to 15.2p per share.Ricardo said market conditions were positive in the UK and Asia and were improving in the US."In Germany, we enter the new financial year with an order book significantly up on previous years, " the group added.Chief executive Dave Shemmans said: "We are actively looking for opportunities to expand and enhance our business."Shares rose 17p or 2.7% to 633.5p at 09:45 in London.