Ricardo Trading To End June In Line, Order Book +15% At GBP101M

28th Jul 2010 09:17

LONDON (Dow Jones)--Ricardo PLC (RCDO.L), an engineering and automotive consultancy firm, said Wednesday trading performance for continued operations to the end of June was in line with management expectations and its order book at the end of June was up 15% to GBP101 million. MAIN FACTS: -Ricardo has also signed an agreement to sell its non core German exhaust manufacturing business to J. Eberspacher GmbH & Co. KG for EUR2 million. -The disposal will result in a write-off of assets of an estimated EUR2.8 million in the financial statements for the year ended June 30. -As part of ongoing actions to improve business efficiency, Ricardo continues to manage the business tightly and implement cost savings wherever possible. -Shares at 0815 GMT unchanged at 245 pence valuing the company at GBP125.7 million. -By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; [email protected] (END) Dow Jones Newswires July 28, 2010 04:17 ET (08:17 GMT)