Ricardo FY22 Profit, Orders Surge; Lifts Dividend; Says Confident In FY23

Ricardo Plc. (RCDO.L), an environmental, engineering and strategic consulting company, reported Wednesday that its fiscal 2022 profit before tax surged to 13.2 million pounds from last year’s 3.9 million pounds.

Basic earnings per share were 13.8 pence, up from 2.9 pence a year ago.

Profit before tax was continuing operations was 12.4 million pounds or 13.2 pence per basic share.

Underlying profit before tax was 26.3 million pounds, compared to prior year’s 18.0 million pounds. Underlying basic earnings per share were 31.2 pence, compared to 22.4 pence a year ago.

Underlying profit before tax from continuing operations was 24.2 million pounds or 28.5 pence per basic share.

Revenue grew 10.1 percent to 387.3 million pounds from last year’s 351.8 million pounds.

The company recorded strong order intake, up 23% on last year.

Further, the Board has declared a final dividend of 7.49p per share, up from last year’s 5.11 pence, bringing total dividend for the year to 10.40 pence. The dividend will be paid on November 25 to holders of ordinary shares on the Company’s register of members on November 4.

Looking ahead, Graham Ritchie, Chief Executive Officer, 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 FY 2022/23 with a strong order book, … I am confident that we are well prepared to deliver our expectations despite the uncertainty in the short-term.”

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