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Increased diversification buoys Ricardo's orders

The global engineering and consultancy group has entered its new financial year with a strengthening order book
July 7, 2017

Ricardo (RCDO) updated on order levels as it hosted an investor event at its Shoreham Technical Centre focusing on developments in the rail, energy and environment, and automotive sectors, with an emphasis on the benefits that increased diversification has brought to the global engineering and consultancy group.

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Ahead of the September publication of its full-year results, Ricardo confirmed that order intake “has been good at over £360m and slightly ahead of the prior year”. The intake level was “significantly up on the prior year” once you exclude the large multi-year transmission supply contract awarded in June 2016. The closing order book at the end of June is expected to be in excess of £240m compared with £231m at the same time last year.