Ricardo plc(RCDO.L), an engineering, automotive and environmental consultancy, Thursday, in its Interim Management Statement for the period January 1 to the date, said the revenue in the eight months to April was up by 15 percent compared with the same period last year. Excluding the benefit of Ricardo-AEA acquisition, the revenues were up 3 percent.
The company said that the order book at the end of April remained strong at 130 million pounds. Excluding the Ricardo-AEA acquisition, the order book was 101 million pounds compared to 106 million pounds during the comparable period last year.
The group added that the Technical Consulting is increasing driven by a broad range of projects for major car companies around the world. The Performance Products segment continues to perform well with a new order for a further 76 Foxhound military vehicles, the company said in a statement.
The 'Detroit 3' have placed a number of smaller contracts and also the company continues to have existing major programmes for passenger car companies in the UK, Russia and the Far East. Although demand in continental Europe remains subdued, business and prospects remain strong in Japan, the group said.
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