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Ricardo PLC on Wednesday reported a ‘strong’ annual order intake in line with expectations, as it lifted its payout by 52%.
For the year that ended on June 30, the environmental and engineering consultancy said pretax profit surged to £13.3 million from £3.9 million the year before, as revenue increased by 10% to £387.3 million from £351.8 million.
Order intake rose by 23% to £432.2 million from £352.0 million, driven by ‘accelerating environmental trends and key programmes’, Ricardo noted.
Order book amounted to £343.6 million, up 17% from £293.5 million the year before.
The company's Energy & Environment division reported a growth of 16% in order intake to £74.1 million from £64.1 million the year before, as a result of its sustainability portfolio and the ‘geographic expansion into key territories’, it said.
Chief Executive Officer Graham Ritchie said: ‘We continue to see strong momentum in our priority markets, underpinned by environmental and energy transition trends. The macroeconomic outlook around the world is challenging. Nevertheless, as we enter [financial 2023] with a strong order book, I am confident that we are well-prepared to deliver our expectations despite the uncertainty in the short-term.’
Ricardo added that trading for financial 2022 has been in line with management's expectations.
Ricardo declared a final dividend of 7.49 pence per share, up 47% from 5.11p the year prior. This brings the total dividend to 10.40p, up 52% from 6.86p.
Shares were up 0.5% at 438.32 pence each on Wednesday morning in London.
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